Takatso Consortium to conclude 51% share purchase of SAA with DPE

The consortium comprises Harith General Partners, a leading Pan African investor in African infrastructure and global aviation.

FILE: The Takatso Consortium has confirmed that Harith is the majority shareholder and funder of the SAA transaction and then Global Aviation is the minority shareholder and strategic partner to the venture. 123rf.com

JOHANNESBURG - The Takatso Consortium said it would now move ahead with concluding a share purchase agreement for 51% of the South African Airways (SAA) with the Department of Public Enterprises (DPE).

The consortium comprises Harith General Partners, a leading Pan African investor in African infrastructure and global aviation.

It said its due diligence of SAA was substantially complete and no material issues had been identified.

READ: 'We've done our homework': SAA CEO says its routes will be lucrative

However, the agreement will be subject to various approvals and pre-conditions, which are likely to take some time.

The Takatso Consortium has confirmed that Harith is the majority shareholder and funder of the SAA transaction and then Global Aviation is the minority shareholder and strategic partner to the venture.

The consortium has provided input into the SAA business plan but at this stage, it is not involved in the management of SAA or any plans to relaunch the airline.

It has also clarified that with regards to the future management of SAA, decisions will be taken by a newly formulated board once the transaction is complete.

ALSO READ: SAA set to finally take to the skies on 23 September

SAA confirmed this week that it will begin passenger flights on 23 September 2021.

This is expected to include those to various destinations around the continent.

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