Terms of the PIC/AYO deal revealed – it is a bloodbath for state pensioners
Technology company AYO and the Public Investment Corporation (PIC) have settled their legal dispute through mediation in a deal in which the PIC will get paid around R600-million of its original R4.3-billion investment for 5% of the company’s shares, thus formalising the massive loss suffered by SA’s state pensioners during the five-year ordeal.
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