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'No million dollar bid' for Pamodzi

By unknown | May 06, 2009 | COMMENTS [ 0 ]

Marcia Klein

Marcia Klein

Pamodzi Gold's liquidators have denied having received a $150million bid for the company.

It was reported that the bid was received from local company Sekunjalo and rich Middle Eastern families.

Enver Motala, one of the joint provisional liquidators of three of Pamodzi Gold's operations, said the liquidators had not received an offer from them, nor did they have any knowledge of any offer made to the Industrial Development Corporation and the liquidators late last month.

He said: "The Joint Provisional Liquidators further deny that any alleged offer was made on the condition that there would be no bidding war for the Pamodzi Group of companies, and that the consortium would be allowed to conduct a due diligence audit or that any alleged offer is on condition of exclusivity."

Motala also denied that he had "allegedly met with Sekunjalo, the Industrial Development Corporation and Pamodzi Gold at the weekend".


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