Ayo Technologies to sue PIC for ‘billions’
The Public Investment Corporation invested R4.3bn in Ayo in December 2017, but the deal has garnered controversy and is the subject of a commission of inquiry
Ayo Technology Solutions intends to sue one of its largest shareholders, the Public Investment Corporation (PIC), for billions of rand, according to an article published on Independent Media's Business Report website on Wednesday.
The PIC invested R4.3bn in Ayo in December 2017, a deal that subsequently garnered controversy as details of the irregular process the asset manager followed came to light in media reports and at the commission of inquiry being chaired by retired judge Lex Mpati...
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