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November 6, 2008
BEE code contradictions hold up deals
CONTRADICTIONS between the black economic empowerment (BEE) codes and the government's interpretive guide to the codes are a huge impediment to businesses and have hamstrung a number of business equity deals.
Michael Denenga, a partner at commercial law firm Webber Wentzel, this week said many private equity funds had held back on possible empowerment deals and had delayed the structuring of new funds until there was legislative authority on the matter.
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Posted by StaffWriter at November 6, 2008 11:26 AM