Pepkor’s plans to sell Building Company hit snag
The Competition Commission says the merger of the two hardware companies would create a dominant supplier of building material in SA
28 May 2021 - 17:14
The Competition Commission has recommended that Pepkor’s plan to sell the Building Company to Cashbuild for R1bn be prohibited, arguing that the merger of the two hardware companies would create a dominant supplier of building material in SA.
Pepkor, owner of Ackermans and Incredible Connection, wanted to sell the Building Company so that it could focus on its core brands, which are consumer-facing, Pepkor CEO Leon Lourens previously told Business Day. ..
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