Karan Beef’s fine for collusion is unlikely to affect its multibillion-rand transaction with the Public Investment Corporation (PIC), the Competition Commission said on Monday. The commission found beef processing companies Karan Beef and I&J guilty of collusion for dividing markets in the supply of processed beef products such as crumbed beef steaklets, beef burger patties, steak sizzlers, viennas and boerewors. SA’s largest investor, PIC, and black-owned investment group Pelo Agricultural Ventures said last week they would buy a majority shareholding in Karan Beef for up to R5.2bn. The deal is subject to final approval by the Competition Commission. “In no way does this investigation into Karan Beef and the fine affect the PIC’s deal with Karan Beef,” David Maimela, the commission’s acting chief of staff, said. Karan Beef, which was founded in 1974 by Ivor Karan, operates the largest cattle feedlot and abattoir in Africa. The feedlot accommodates 150,000 head of cattle at any give...

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