How $270-million IPTL deal was planned and executed
“In facts Section 57 of the Companies Act of Mainland Tanzania prohibits companies in the country to use their own funds to fund the purchase of own shares or give loans to shareholders to pay for the acquisition of their shares.”PHOTO|FILE
What you need to know:
“We refer to the discussions held between you and the undersigned in connection with the above subject…as desired by you, we hereby submit Mechmar’s proposal for your consideration,” reads part of the letter.
