Court denies interdict in Karpowership shares battle
Powergroup SA fails in bid to prevent Turkish firm from taking back shares it held in floating power plant
29 September 2023 - 05:00
Powergroup SA, the local empowerment partner of Karadeniz Holdings, the majority shareholder in Karpowership SA, has failed in its bid to have the court interdict the company from taking back the shares held in a floating power plant.
The case was heard in the Johannesburg high court on September 22, but before it could be heard Karadeniz Holdings initiated a call option settlement to acquire Powergroup SA’s 49% stake in Karpowership SA. ..
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