Shipbuilder buys stake in Zuma nephew's company
2010-07-14 18:26
Seoul-based Daewoo Shipbuilding
& Marine Engineering Company, the world’s third-largest shipbuilder, has
signed a memorandum of understanding to buy a stake in a South African shipper.
The South Korean Yonhap news agency
said today that the shipbuilder would buy a 49% stake in Impinda, owned jointly
by President Jacob Zuma’s nephew Khulubuse Zuma and a Democratic Republic of
Congo partner.
Impinda’s business is focused on
shipping crude oils and natural gas.
Khulubuse
Zuma is also chairperson of Aurora Empowerment Systems, which last year took
control of Pamodzi Gold’s two liquidated mines, Grootvlei and Orkney.
- SAPA