Swissair may buy additional stake in SAA

Sakumzi Macozoma, managing director Transnet and Philippe Bruggisser President and CEO SairGroup signing the original deal in Johannesburg in November 1999 Keystone

Swissair is likely to exercise its option to acquire a further 10 per cent stake in South African Airways (SAA) by November, according to South Africa's state-owned transport group Transnet.

This content was published on August 9, 2000 minutes

However a Swissair spokesman told swissinfo that "Everything is possible. We are not in a hurry as there is still enough time to make a decision and we will make that decision later this year."

Last year Swissair bought a 20 per cent stake in SAA from Transnet for Sfr341 million ($201 million). It also paid SFr12 million for a one-year option to take up an additional ten per cent for SFr175 million.

"By November they have the option to exercise. As far as we are aware that is on course," said Transnet managing director Saki Macozoma.

Transnet, which remains the majority shareholder of SAA, plans to sell another ten per cent of the domestic carrier.

swissinfo with agencies

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