Saturday, March 01, 2014

Investment Arm Of ANC Sells Hitachi Stake

Via Drum:

The investment wing of the ANC has sold its 25 percent stake in Hitachi Power Africa, which has controversially benefited from stated-funded contracts.

The shares in the Japanese firm’s African subsidiary were sold to Hitachi Power Europe for an undisclosed amount.

"All parties have agreed strict confidentiality about the terms and conditions of the contract", Hitachi Power Africa said in a statement announcing the deal.

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