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SAA, Crown consortium in talks over Air Malawi
By
Abel Mwanyungwe - 28-01-2003 |
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The Privatisation Commission has approved that only the bid from Crown Aviation and South African Airways (SAA) consortium be invited for structured negotiations for Air Malawi shares, Executive Director Maziko Sauti-Phiri announced on Friday.
Sauti-Phiri told the press in Blantyre the commission expected to complete the technical evaluation of the bids by the end of this month.
He said the negotiations have been delayed because the commission sought clarifications from the consortium on some technical gaps on the bid.
Government is seeking a strategic equity partner to acquire between 60-70 percent of the total shares in the airline.
Meanwhile, Sauti-Phiri also announced that the commission engaged in structured negotiations with two bidders—Mapeto Wholesalers supported by Jimtex of India and Kabula Yarn and Textiles supported by Weizmann plc of India— for David Whitehead and Sons (DWS) shares.
The last session of the negotiations were concluded on Friday, he said.
“Both bidders were allowed, in accordance with instructions to tenderers, to submit heir best and final offers. The commission, assisted by the transaction advisors, will assess the [offers] in accordance with the pre-determined evaluation criteria and designate a preferred bidder,” Sauti-Phiri said.
But he said government was looking for a partner with technical and financial capacity to turn around DWS.
The company, Sauti-Phiri said, has liabilities in excess of K1 billion.
“The commission will be looking for, inter alia, the tenderer’s technical and financial capacity, the coherence and reasonableness of the business plan, the backward linkages into cotton production, the foreign exchange impact on the economy and the impact on employment and its spin-off,” he said.
Sauti-Phiri said the commission expects to announce the preferred bidder for DWS by the end of this month, saying the winner is expected to offer a price without liabilities. |
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