UDM heads to court over SAA deal

The United Democratic Movement is heading to court over the SAA equity partnership deal. Takatso Consortium is taking up a 51 percent stake in the airline. The Consortium is made up of Harith General Partners and Global Aviation. Clement Manyathela speaks to UDM leader Bantu Holomisa. Courtesy #DStv403

JOHANNESBURG - The United Democratic Movement is headed to court over the SAA equity deal.

Takatso Consortium has been announced as the strategic equity partner for South African Airways.

WATCH: New majority shareholder for SAA

The Consortium made up of Harith General Partners and Global Airways will hold 51 percent shareholding, while the government will retain 49 percent.

The group will initially commit R3-billion to get the troubled airline going.

READ: PIC denies involvement in SAA acquisition

The troubled airline was placed under business rescue over a year ago.

UDM leader Bantu Holomisa has pointed out that while the deal sounds amazing, there has been no clarity on the detail.

Source
eNCA

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