NIEEB wants Masawara's BP acquisition revoked

NIEEB wants Masawara's BP acquisition revoked
Published: 16 September 2013
Zimbabwe wants locals to exclusively benefit from Masawara Plc's $39 million purchase of a stake in BP and Shell Marketing Services and may tear up the current financial arrangement if it fails to reach an agreement with the investor.

The National Indigenisation and Economic Empowerment Board has said agreements the government signed with Masawara Plc to buy a stake in a joint venture owned by BP Plc and Royal Dutch Shell Plc in October 2010 were dubious.

NIEEB says there was "material, deliberate and fraudulent misrepresentation and non-disclosure of the facts of who the actual buyer of the BP and Shell assets in Zimbabwe was." 
- dailynews
Tags: Masawara,

Comments

Latest News

Latest Published Reports

Latest jobs