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FirstRand, SA’s biggest banking group by market value, has been granted approval by the Competition Tribunal to proceed with its deal to acquire the airport lounge business of Kulula Air, whose parent, Comair, is trying to emerge from business rescue.

Kulula operates the Slow and Slow XS airport lounges at OR Tambo, King Shaka, Cape Town and Lanseria international airports. While the Slow lounge brand belongs to the airline group, the premises on which they are located are rented from the Airports Company SA (Acsa)...

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