Savca criticises Burger King decision for its risks to investment
Association that represents venture capital and private equity says black investors may have their options limited
The Southern African Venture Capital and Private Equity Association (Savca) has hit out at the Competition Commission’s decision to block Grand Parade Investments’ (GPI) planned sale of the local Burger King franchise, saying it hurts the ability of black investors to optimise returns on their investments.
The commission controversially recommended that the Competition Tribunal, which has to make a final decision on the sale, disallow it on public interest grounds as the transaction would reduce black ownership of the local Burger King franchise to zero. Fierce debate erupted after the decision by the commission, whose main job is to prevent companies from engaging in anticompetitive conduct...