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The Covid crisis has forced investors to rethink or postpone new investments or search for safer havens. The prevailing market conditions have resulted in a dearth of local merger & acquisition (M&A) activity in a sector that was already struggling before the pandemic hit.

"Deal-making activity in 2020 was down, even against 2017, 2018 and 2019 levels, which experienced steep successive decreases," says Willem Jacobs, director and national corporate and commercial practice head at Cliffe Dekker Hofmeyr...

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