Stefanutti Stocks wagers on winning Eskom dispute
Construction group hopes for binding decision on Kusile power project
25 May 2023 - 18:42
The survival of Stefanutti Stocks hangs in the balance as it scrambles to secure a R1.14bn claim against Eskom for services rendered at the Kusile power plant which, if successful, could inject life-saving capital into the construction and materials group whose liabilities exceed assets by the same amount.
The R216m JSE-listed group, which is entangled in multiple arbitration processes, is simultaneously rolling out its restructuring plan, meant to establish an optimal capital structure and access to liquidity for long-term growth...
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