Eskom Holdings, the State-owned South African power utility with about $30-billion of debt, sought advisers on how to implement a government bailout seven months after President Cyril Ramaphosa said the company would be reorganised. Eskom issued an invitation to tender for “financial services for implementation for government support package” on Aug. 23, according to a document seen by Bloomberg. The tender, which closed on September 3, requires that the team provide its record in “providing holistic solutions to restore the viability of companies in financial distress for transaction values in excess of $1-billion.”
