Deal reached in Pula Steel legal hurdle

Pula Steel
Pula Steel

A winning bidder has been identified for the sale of Pula Steel, after a legal bid to stop the process was cleared at the High Court through a deal between disputing parties.

Pula Steel, which was the country’s pioneering steel plant, was built at a cost of P130 million in 2015 and entered liquidation in October 2017 having operated in fits and starts due to financial and technical challenges, including shortage of its raw materials. Creditors owed about P100 million were left in the wake of the plant’s closure.

Pula Steel liquidator, John Hinchliffe told Mmegi that the dispute that threatened the sale had been cleared for now and a winning bidder identified.

Editor's Comment
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The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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