Competition body blocks Burger King sale by Grand Parade on BEE grounds
The proposed buyer, Emerging Capital Partners, has no historically disadvantaged people or workers as shareholders
01 June 2021 - 21:43
UPDATED 02 June 2021 - 14:10
The Competition Commission has recommended that the sale of Grand Parade’s Burger King be prohibited, putting yet another hurdle in the way of the JSE-listed investment group’s 18-month attempt to dispose of the food business.
The prohibition is due to the proposed buyer’s private equity fund, Emerging Capital Partners Africa Fund IV (ECP), lacking historically disadvantaged people or workers as shareholders...
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