Rejection of Burger King sale will hit black investors, Busa warns
08 June 2021 - 19:49
SA business representative body Business Unity SA (Busa) is the latest entity to warn that the Competition Commission’s decision to block the sale of Burger King by Grand Parade Investments makes it harder for black companies to sell assets and places them at a disadvantage compared with their white counterparts.
The commission recommended on June 1 that the listed empowerment firm, which has 68% black ownership, not be permitted to sell the hamburger franchise to US-based private equity fund ECP Capital, which had only agreed to creating a 5% BEE stake within two years...
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