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SAA Names Equity Partner, Govt Reduces Majority Stake

SOUTH AFRICA
  • *SOUTH AFRICA SELLS 51% STAKE IN STATE AIRLINE TO GLOBAL, HARITH
  • SOUTH AFRICAN AIRWAYS MAJORITY STAKE SOLD TO LOCAL INVESTORS
  • SOUTH AFRICAN GOVERNMENT TO RETAIN MINORITY STAKE IN AIRLINE
  • SOUTH AFRICAN AIRWAYS TO BE LISTED AT A FUTURE DATE
  • The minority stake for govt was noted yesterday, but this is the first naming of the equity partner
  • SAA has been a major drag on the fiscus, necessitating numerous bailouts. The hope is that now post-business rescue the airline will be less depending on Govt funding
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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