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Public Enterprises Minister, Pravin Gordhan, briefed the media on matters relating to South African Airways on Wednesday. (Silas Stein/Getty Images)
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The deal to sell 51% of SAA to the Takatso consortium is off, Minister of Public Enterprises Pravin Gordhan announced on Wednesday.
The deal, which was first agreed in June 2021, has faced numerous obstacles. Among them has been the need to revalue the assets of SAA due to the lengthy time between the original agreement and the final agreement on the sale of shares.
Gordhan said he had given 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.
Update: This article has been updated to correct the spelling of Takatso.
