SHOSHOLOZA MEYL SOLD FOR R100
Posted on 26 June 2009
South Africa’s long distance rail passenger service Shosholoza Meyl was sold to the Passenger Rail Agency of South Africa (Prasa) for R100, effective 31 March 2009 – the date on which risks and reward of ownership passed. A Sale of Business agreement was signed on 7 May 2009. As part of the transaction, Prasa paid an amount of R500 million to Transnet on 22 May 2009. This amount related to the reimbursement for passenger rail operating expenditure incurred by Transnet prior to the transfer date.
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Tags | PRASA, Shosholoza Meyl
