Nedbank and Transnet have announced a confidential commercial settlement to resolve their ongoing litigation. The agreement comes without any admission of liability and aims to avoid prolonged legal proceedings while preserving the long-standing relationship between the two entities.
Both parties reaffirmed their prior statements regarding the litigation, emphasizing the importance of maintaining their collaboration. The settlement is intended to support the continuation of their partnership, which plays a crucial role in national infrastructure investment and economic growth.
Under the terms of the settlement, Nedbank Group will pay Transnet R600 million. This payment is made in full and final resolution of the dispute, without Nedbank admitting any liability. The resolution allows both organizations to focus on strengthening their ongoing commercial relationship.
