Norton Rose, the law firm representing Bizos, says his position will be laid out in court papers likely to be filed in mid-May.
Mandela has withdrawn from public life, and is currently receiving medical care at his home in Johannesburg after several hospital visits in recent months. He was discharged from a hospital in Pretoria earlier this month after treatment for pneumonia.
The statement from the Mandela grandchildren said “our mothers, aunts and lawyer have our full support.”
It said the court action by Makaziwe Mandela and Zenani Dlamini, daughters of Nelson Mandela, is not about “money and exploitation of the Mandela name.”
The goal of the legal action is to safeguard the interests of beneficiaries and shareholders, in line with a trust set up by Mandela to provide for his family, the statement said.
The Star newspaper has quoted Bizos as saying Makaziwe Mandela’s goal is to take some company money, estimated to be $1.3 million, without providing details of how it would be used.
“That is contrary to the provisions of the trust. Therefore we refused to give her the money,” The Star quoted him as saying.