DEPUTY President Cyril Ramaphosa was poised to sell fast-food company McDonald’s SA to MSA Holdings, a McDonald’s subsidiary operating in the Middle East, should the transaction be completed successfully, McDonald’s SA CE Greg Solomon said yesterday.The sale will complete the disposal of all Ramaphosa’s commercial interests other than his investments in property.The remainder of his assets are held in a blind trust and invested in stocks of which he has no knowledge.The proposed transaction came to light prematurely on Tuesday when it emerged that the Competition Commission had given its approval to the transaction two weeks ago.Solomon was reluctant to say anything further than what was contained in a measured holding statement as the transaction was still being negotiated."McDonald’s SA can confirm that there is a process under way to find a suitable replacement for Mr Ramaphosa, the current McDonald’s Developmental Licensee for SA."The potential purchaser, MSA Holdings, is a comp...
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