News Formal

PIC denies investment in Edcon was the result of political pressure

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

Asset manager says R1.2bn contribution to the struggling retailer’s recapitalisation helped save 140,000 jobs and was commercially driven

The Public Investment Corporation , which is the largest investor in SA, has responded to suggestions that it invested in Edcon because of political pressure, saying that it was in the national interest to contribute to the turnaround of the struggling retailer.

Deon Botha, head of corporate affairs at the PIC, said the state-owned asset manager, which oversees more than R2-trillion in government employees’ pension money and other government funds, had followed the necessary procedures. “In making the investment decision, the PIC subjected the transaction to the PIC’s rigorous internal investment processes and did not succumb to any external political or union pressure as suggested by some media houses,” he said.

However, Edcon CEO Grant Pattison said on Thursday unions had played an important role in getting the PIC on board. He also said the recapitalisation programme had been a success.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 12. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

PIC denies investment in Edcon was the result of political pressureAsset manager says R1.2bn contribution to the struggling retailer’s recapitalisation helped save 140,000 jobs and was commercially driven
출처: BDliveSA - 🏆 12. / 63 더 많은 것을 읽으십시오 »

Business Maverick: PIC’s Ability to Manage Funds Questioned After Edcon BailoutSouth Africa’s biggest government workers union questioned the ability of the Public Investment Corp. to manage about 1.8 trillion rand ($128 billion) in pension funds after the money manager bailed out the country’s second-biggest clothing retailer following political pressure.
출처: dailymaverick - 🏆 3. / 84 더 많은 것을 읽으십시오 »

PIC denies investment in Edcon was the result of political pressureAsset manager says R1.2bn contribution to the struggling retailer’s recapitalisation helped save 140,000 jobs and was commercially driven
출처: BDliveSA - 🏆 12. / 63 더 많은 것을 읽으십시오 »

Business Maverick: PIC’s Ability to Manage Funds Questioned After Edcon BailoutSouth Africa’s biggest government workers union questioned the ability of the Public Investment Corp. to manage about 1.8 trillion rand ($128 billion) in pension funds after the money manager bailed out the country’s second-biggest clothing retailer following political pressure.
출처: dailymaverick - 🏆 3. / 84 더 많은 것을 읽으십시오 »