Takatso's acquisition of majority stake in SAA still being probed, MPs told

📆 10/5/2023 11:40 PM
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Acting director-general Melanchton Makobe told MPs that the controversial sale of a majority stake to the Takatso Consortium was still being looked at by competition authorities.

CAPE TOWN - The Public Enterprises Department said that the acquisition of South African Airways by a strategic equity party was still under investigation.The department has briefed the Public Enterprises committee on its annual performance plan and state-owned companies.

The Takatso Consortium deal to buy a majority stake in SAA was announced in 2021 by Public Enterprises Minister Pravin Gordhan.Makobe said that it may be a while still as the Competition Commission investigated. "And it has been over two years there at the Competition Commission. They are conducting their own investigation and once they have made a decision, because this is a large merger, the matter may then be referred to the Competition Tribunal."

Deputy Minister Obed Bapela said that the SAA matter must still be discussed further with the committee. He also said that SAA now had a positive balance sheet after returning to the skies.

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