The Public Investment Corporation (PIC) has clarified that its funds will not be used by a private sector consortium to acquire a 51% private equity stake in South African Airways (SAA).
The State-owned investment manager says it is not involved in the acquisition, nor are the assets it manages on behalf of clients.
The PIC does own 30% of Harith General Partners, which is one of the companies that make up the new private equity partner consortium for the SAA deal, alongside Global Airways.
Some of the individuals involved in the Takatso consortium may previously have been associated with the PIC, but, nonetheless, Harith and Takatso did not involve PIC in the acquisition, the investment manager states.