The Public Investment Corporation will need to act soon and finalise its deal with Karan Beef.
The Commission of Inquiry into the asset manager has heard how the deal between the two has not progressed due to the goings-on at the PIC.
There is a risk that the PIC could lose out on the R5,2-billion deal.
The PIC showed interest in buying the meat producer in 2017 but it’s almost two years later, and things are still not finalised due to the ongoing inquiry.
An advisor for the deal, Sello Motau, has requested the commission to intervene so that other buyers don’t capitalise on the delay by the PIC.
The commission will hear from a valuator on Wednesday.
Source – eNCA
