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Vol 4 (AAC) No 2

Published 1st December 2010


Rust never sleeps

After much stalling, the first privatisation deal with the Zimbabwe government has finally been sealed. An estimated 53% of the country’s largest public company, the Zimbabwe Iron and Steel Company, once a leading source of foreign exchange, was acquired by India’s Essar Group through the firm’s Mauritius-based arm, Essar Holdings. The government and Essar have yet to settle the final terms of the transaction.

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