Takatso Consortium says SAA deal would have taken too long
It says time constraints to meet new directives by the competition authorities would have made it even more difficult to conclude the majority purchase of SAA.
Takatso director Tsepho Mahloele and spokesperson Thulasizwe Simelane briefing the media on 13 March 2024 about the failed SAA deal. PIcture: Babalo Ndenze/Eyewitness News
JOHANNESBURG - The Takatso Consortium says the changes in the deal to buy SAA would have taken too long.
It says time constraints to meet new directives by the competition authorities would have made it even more difficult to conclude the majority purchase of SAA.
The consortium gave an update following Minister Pravin Gordhan’s announcement that the deal was off.
He said certain Competition Tribunal directives on minority shareholders could not be met on time.
Takatso Director Tshepo Mahloele said, "That process as you know of the tribunal went in excess of, I think nine months or so. So, you were seeing another year if you look at where we are right now until we can again conclude this transaction."
Mahloele said it was not the end and they will still explore other aviation opportunities in the future.