ESKOM LENDERS SEEK HELP FROM PwC
Eskom lenders have hired PrincewaterhouseCoopers (PwC) to assist them with negotiations. According to News24, the banks asked consultants at PwC to assist them with negotiations. Representatives of PwC and Eskom didn’t immediately respond to request for comment. Those who are familiar with the situation at hand, who aren’t authorized to speak about the matter and
ESKOM LENDERS SEEK HELP FROM PwC
Eskom lenders have hired PrincewaterhouseCoopers (PwC) to assist them with negotiations. According to News24, the banks asked consultants at PwC to assist them with negotiations.
Representatives of PwC and Eskom didn’t immediately respond to request for comment.
Those who are familiar with the situation at hand, who aren’t authorized to speak about the matter and requested not to be revealed confirmed that indeed PwC will be assisting Eskom.
Bondholders appointed advisers Moelis & Co. and law firm Akin, Gump, Strauss, Hauer & Feld earlier this year. Eskom is working with its own adviser. Lazardto split its transmission, generation and distribution units to help manage its debt and improve performance, News24 said.
According to the representation to investors in June, in order for Eskom to implement the unbundling of the transmission units, they need the consent from some of its lenders.
The latest appointment comes as the utility and government face mounting criticism for the worst-ever blackout in South Africa. Eskom’s plant, which supplies more than 90% of the country’s electricity, is constantly breaking down. To address the crisis, the company recently restructured its board.
Main Image: Enca
