The Sale of 51% of SAA is off – Pravin Gordhan

The proposal to sell 51% of SAA to the Takatso consortium has been called off, Minister of Public Enterprises Pravin Gordhan revealed on Wednesday.

The transaction, which was first agreed upon in June 2021, has encountered various difficulties. Among them has been the requirement to revalue SAA’s assets due to the long period of time between the original agreement and the final agreement on the sale of shares.

Gordhan said he provided an update to the Cabinet on Wednesday morning.

“As a result of various factors, we have come to the point where those negotiations (with Takatso) will no longer continue. Our search for the right partner for SAA will not happen through this process,” he said.

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