Public enterprises minister Pravin Gordhan has announced that SAA’s deal with strategic equity partner Takatso has been terminated, in a setback to one of President Cyril Ramaphosa’s biggest privatisation drives amid pushback from some in the governing ANC party.

“Late last week there was agreement that by mutual consent this transaction should be terminated as there is no clear path forward,” Gordhan said after a cabinet meeting on Wednesday. He said that in a post-Covid market, a new valuation on the national carrier’s worth was made and this overshot Takatso’s original R3bn offer...

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