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June 26, 2008

Avusa BEE deal moving ahead

Media and entertainment group Avusa is finally attending to its black economic empowerment (BEE) deal, which has been in limbo for four years. CEO Prakash Desai says a proposal on a 10% ownership transaction has been presented to the board, and all that remains is to get 75% shareholder approval.

"Business imperatives, BEE targets and staff retention benefits have been demonstrated," says Desai. The deal will be in-house and is intended to benefit black Avusa employees.

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Posted by StaffWriter at June 26, 2008 1:06 PM