COMPETITION AUTHORITIES
Distell postpones restructuring deadline again after delays
"What’s another two months when you’ve been waiting almost nine years," was the response of one weary Distell shareholder to news that the closing date for the restructuring had been pushed out to April 6 from January 29. Distell informed shareholders on Monday that the deadline for completion of the restructuring of control had to be postponed by two months. No specific reason was given but the statement did refer to the need to secure approvals from competition authorities in a number of jurisdictions. "The process to obtain these consents from the relevant competition authorities is … taking longer than originally anticipated," Distell said. A company spokesman said that the delay had nothing to do with shareholder activist Albie Cilliers’s challenge to the Takeover Regulation Panel’s ruling. That challenge was heard and the previous ruling confirmed last week. In recent years Distell has focused considerable attention on building its international exposure particularly in the UK...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.