BRIAN MOLEFE and the Public Investment Corporation
Was die nuwe Eskom CEO Brian Molefe betrokke by die transaksie waar PIC R4,800,000,000 verloor het? As dit so is het ESKOM 'n groot nuwe probleempie. Google dit bietjie
PIC's AfriSam write-down much bigger
Oct 4, 2010 | LINDA ENSOR
The controversial R6bn investment made by the Public Investment Corporation to facilitate a BEE transaction between the AfriSam consortium and the Holcim cement group was valued by auditors KPMG at only R1,2bn at the end of the 2009-10 financial year.
Former CEO Brian Molefe strongly rejected suggestions that the investment was made to benefit friends of former president Thabo Mbeki, including Mr Mbeki's former adviser, Titus Mafolo, who held shares in AfriSam.
The PIC's R6bn investment allowed the AfriSam consortium to finalise the R16,4bn deal with Swiss cement group Holcim and to replace the bridge financing facility provided by Holcim.
The deal gave the AfriSam consortium 85% of Holcim's 54% stake in Holcim SA, as well as the 46% stake previously held by local construction company Aveng. It gave the PIC a 20% stake in AfriSam .
