TUESDAY, 11.00AM
DEUTSCHE Morgan Grenfell has been selected as adviser for the proposed partial sell-off of parastatal Airports Company, Transport Minister Mac Maharaj announced on Monday.
Maharaj said government will sell up to 49% of the R2,5-billion company, which controls nine major SA airports, with the sale intended to be completed by March next year.
Maharaj added that a host of international groups have already expressed interest in the Airport, including Lockheed Mating AGI, Soros Investments, the British Airports Authority, Schipol Amsterdam, Daimler-Benz, the Malaysain Airports Authority, Vienna Airport, Singapore Airport and the Challenger Group.
DMG was chosen above the other two shortlisted candidates, according to Maharaj, largely because of its innovative black empowerment initiative.
The Airports Company controls three international airports, in Cape Town, Durban and Johannesburg, and six national airports, in Bloemfontein, East London, George, Kimberley, Port Elizabeth and Upington.