https://www.engineeringnews.co.za
Africa|Business|Financial|Power
Africa|Business|Financial|Power
africa|business|financial|power

Eskom lenders hire PwC as power cuts grip South African utility

19th October 2022

By: Bloomberg

  

Font size: - +

Lenders to Eskom Holdings have hired financial advisers as South Africa’s State-owned power utility restructures its business.

The banks asked consultants at PwC to assist them with negotiations, said people familiar with the matter, who aren’t authorized to talk about it and asked not to be identified. Representatives for Eskom and PwC didn’t immediately respond to requests for comment.

Bondholders appointed advisers Moelis & Co. and law firm Akin, Gump, Strauss, Hauer & Feld earlier this year. Eskom is working with its own adviser Lazard to split its transmission, generation and distribution units to help manage its debt and improve performance.

In order to implement the unbundling of the transmission units, Eskom needs the consent from some of its lenders, according to a presentation to investors in June. The company issued a formal request of consent to all necessary creditors earlier this year.

The latest appointment comes as the utility and government face mounting criticism for South Africa’s worst-ever blackouts. Eskom’s plants, responsible for supplying more than 90% of the country’s electricity, keep breaking down. The company recently revamped its board to tackle the crisis.
 

Edited by Bloomberg

Comments

Showroom

Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.469 0.522s - 177pq - 2rq
Subscribe Now