SA firm set for Pula Steel takeover

Pula steel
Pula steel

A South African firm has emerged as the bidder favoured to take over Pula Steel, ending nearly two years of legal wrangling over the country's pioneering steel plant.

The Verma family, who founded Pula Steel in 2015 and held 22% equity at its liquidation in October 2017, recently dropped their long running fight to regain control of the Selebi-Phikwe plant.

During the battle, the Vermas alleged they had been muscled out of Pula Steel by a conspiracy involving other shareholders and senior government officials. 

Editor's Comment
Are police trigger-happy?

Unfortunately, that day turned sour for those who were shopping at Sefalana Cash and Carry in Gaborone West Industrial.The exchange of fire that ensued between members of the Botswana Police Service (BPS) and robbers who had allegedly robbed a G4S cash-in-transit vehicle left two civilians dead, three robbers struck down, and an undisclosed number of citizens wounded.One deceased civilian is reportedly an employee of the Citizen Entrepreneurial...

Have a Story? Send Us a tip
arrow up