Mmamabula deal runs aground

Following months of speculation, the proposed acquisition of the Mmamabula Energy Complex by Indian giant, JSW Energy has failed after the termination of negotiations by CIC Energy, the Canadian company currently holding rights over the project.

Nearly eight months after agreements were first inked between CIC and JSW, the Canadian firm announced on Tuesday that the proposed deal had run aground and an official termination letter was due to be sent to the Indian company on Wednesday.