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Dan Matjila denies coercing BEE companies to merge in Total SA deal

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Matjila's testimony concerning what transpired in the run-up to the acquisition of a stake in Total SA by two BEE consortiums has left more questions than answers

Warren Thompson

But despite signing an engagement letter with the PIC, Mulaudzi said Matjila told him he had to merge with Sipho Mseleku’s Sakhumnotho group if they were to get any funding from the PIC. Mulaudzi said they were forced to “form one consortium”, with each party holding 50% of the shares. Mulaudzi’s testimony indicated that Matjila had inserted Sakhumnotho into the transaction late in the bidding process, at a point where Mulaudzi thought his company had an exclusive undertaking from the PIC to fund the transaction.

 

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