SAA's sale to Takatso to be done in four months - Minister

The South African government expects to finally conclude the long-winded semi-privatisation deal of South African Airways in the next four months, according to newly-appointed interim chairman Derek Hanekom. A former Minister of Tourism, Hanekom told South Africa's News24 it was premature for him to comment on the pending 51% sale of SAA to the Takatso Consortium, the government's preferred strategic equity partner, but said Public Enterprises Minister Pravin Gordhan had indicated the transaction would be concluded within four months. "I can't comment on the Takatso deal. Minister Gordhan indicated that he expects it to be concluded in the not-too-distant future. He is confident that it means within the next four months," Hanekom said following the appointment on April 15 of a new interim board that will serve until the introduction of the Takatso Consortium. Announcing the board on April 17, Gordhan said its primary focus was to provide strategic leadership to the transitional management team and oversee the integration of the Takatso Consortium. The deal - first announced almost three years ago - is still under regulatory review. According to Treasury disclosures to a parliamentary oversight committee on February 17, two outstanding issues are holding up the deal: outstanding liabilities to concurrent creditors and unflown ticket liabilities.<br/>