Burger King sale possibly back on the cards after revised conditions news24.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news24.com Daily Mail and Mail on Sunday newspapers.
A ground-breaking recommendation by the Competition Commission to the Competition Tribunal to prohibit the proposed
sale by Grand Parade Investments Limited of its investment in Burger King SA to a US private equity firm could have far-reaching a far-reaching impact onr
the future of M&A transactions in South Africa, say Robert Wilson and Shawn van der Meulen.
On 1 June 2021, the Competition Commission
recommended that the transaction whereby ECP Africa, a private equity fund,
proposed to acquire Burger King South Africa and Grand Foods Meat Plant from GPI be prohibited. The Commission found that the merger
would significantly reduce the shareholding of historically disadvantaged
‘It s quite ironic that a broad-based BEE grouping now is impacted by something which was put in place for broad-based BEE previously disadvantaged participants”: Bravura head of corporate finance Soria Hay.
The Competition Commission said the sale of Burger King SA 'WILL NOT negatively influence markets'. But they've stepped in for an entirely different reason.