Investors cheesed off at decision to block Burger King sale
Shares in Grand Parade Investments crashed the most in more than a year the day after the competition watchdog rejected its R500m sale of the Burger King SA franchise to a US private equity outfit — the first cross-border deal rejected on public interest grounds in SA.
In a decision that drew sharp criticism from investors, the Competition Commission, whose primary goal is to scrutinise antitrust issues in mergers, turned down a proposed deal between one of the pioneering BEE firms and Emerging Capital Partners (ECP), saying the transaction would result in black ownership in the fast-food chain being slashed from nearly three-quarters to zero...
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.