HomeNewsPfisterer Sefag in negotiations to sell South African operations

Pfisterer Sefag in negotiations to sell South African operations

Pfisterer Sefag, the Swiss based specialist in overhead-line equipment in low- medium- and high-voltage networks is in negotiations to sell its Pietermaritzburg based Pfisterer division.

Eskom is Pfisterer South Africa’s largest client and its transformation and empowerment Agenda which was instituted in 2012, demands 51% black and 30% black female ownership of the Pietermaritzburg based business for the electricity provider to continue to procure from Pfisterer. It is therefore necessary to ensure that the potential buyer is compliant with this requirement. The sale process has been a lengthily consultative process in which all potential buyers were vetted by Eskom.

It is envisaged that the current BEE partner of Pfisterer in South Africa, Ms Orene Maphosa Mnguni will be a major shareholder in any agreed deal. Commenting on the potential sale, Michael Keinert chairman of the board of Pfisterer Sefag AG says, “it is important to agree a transaction between all of the stakeholders that underpinned the long term sustainability and current employment of some 500 employees at the Pietermaritzburg factory. We have been expanding product lines and quantities and moreover we envisage a strong relationship between the group and South Africa after the sale.”

Maphosa Mnguni says, “After nine years involvement as a BEE partner to Pfisterer SA, I am excited to be at a point where this profitable business becomes South African owned. This potential deal will enable Eskom to continue to procure our electrical products and allows us to focus more heavily on growing southern African markets.”

The sale consideration and negotiations are still subject to confidentiality.

Top Stories:
Snowball effect of private sector involvement in SA’s power sector
Pfisterer Sefag in negotiations to sell South African operations
Power quality recorder