Baker McKenzie Johannesburg Managing Partner Lerisha Naidu wins at African Legal Awards polity.org.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from polity.org.za Daily Mail and Mail on Sunday newspapers.
The Board of Directors of Grand Parade Investments Limited announced that Prof. Walter Geach, the current lead independent director of GPI, stepped down as lead independent non-executive director of.
Merger parties need certainty on deal making, and the authorities should not harm the very interests they are required to protect and arguably promote.
For the first time in 20 years, a merger may be prohibited on public interest grounds alone. A ground-breaking recommendation by the Competition Commission (Commission) to the Competition Tribunal (Tribunal) to prohibit the proposed sale by Grand Parade Investments Limited (GPI) of its investment in Burger King (South Africa) to a US private equity firm will have severe consequences for the future of M&A transactions and investment into South Africa. The case also raises questions about whether competition law is the right tool to advance the country s transformation agenda.
On 1 June 2021, the Commission recommended that the transaction whereby ECP Africa, a private equity fund, proposed to acquire Burger King (South Africa) and Grand Foods Meat Plant (Pty) Ltd (Grand Foods) from GPI be prohibited. The Commission found that the merger would significantly reduce the shareholding of historically disadvantaged persons (HDP) in the target firm, from more than 68% to 0%.