State’s 49% stake in SAA can be further diluted

Takatso, the consortium picked to buy a majority stake in SAA, could raise its stake if the airline runs out of money, ensuring that the government is off the hook for any possible future recapitalisation efforts.

The consortium, which is made up of private equity infrastructure investment fund Harith and aircraft-leasing company Global Aviation, will own 51% of the shareholding in the airline, while the government will retain 49%...