New twist in Shell SA sale
Bidder Gunvor dumps Afrifund for Manne Dipico company as local BEE partner
A legal showdown is looming over the sale of Shell's downstream business in South Africa. At the heart of the battle is a decision by Swiss energy firm Gunvor to dump Afrifund Investments, led by businessman Sipho Maseko, as its local BEE partner.
Maseko and his investment vehicle are said to be considering legal action after the company was dumped at the last minute in favour of Matasis Investment Holdings, a Johannesburg-based company fronted by former Northern Cape premier Manne Dipico. This has led to accusations that they were sacrificed in favour of a company led by someone with close political ties...
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