Third time’s a charm for Metair

Metair CEO Paul O’Flaherty is upbeat about the success of the group’s third effort to sell its Turkish company Mutlu Akü, saying this is the farthest it has gone in sale negotiations.

If successful, the $110m (R1.89bn) deal announced last week is set to derisk and minimise Metair’s exposure to the challenging operating conditions and hyperinflationary atmosphere in Turkey, where the lira’s depreciation and high interest and inflation rates affect the company’s rand reported results...

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