Economics
South Africa to Consult Eskom Debt Holders on Reorganization
- Power-utility investors not concerned about haircuts: Gordhan
- Proposal on power-plant sale ‘part of debate,’ minister says
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South Africa’s government is intent on putting embattled state power company Eskom Holdings SOC Ltd. back on a sustainable footing and will consult with its debt holders on any reorganization, Public Enterprises Minister Pravin Gordhan said.
“I think the market understands that we are going to run a fair process,” Gordhan said in an interview with Bloomberg TV at the World Economic Forum on Africa in Cape Town on Thursday. “We require a bit of patience through this period where we are looking at different options, and the second period during which we will consult with all the lenders, and the third period during which we will implement those options. I don’t think there’s any real concern about haircuts.”