South Africa's government terminated a deal to sell SAA stake to Takatso due to failed negotiations.
South Africa's Public Enterprises Minister Pravin Gordhan announced on Wednesday that the government terminated a deal to sell a controlling stake in its national airline, South African Airways (SAA), to the Takatso group. The deal was called off due to failed negotiations on value and terms after three years of discussions. SAA will now revert to being 100% owned by the state, and no further government bailouts will be provided.
March 13, 2024
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