FOREIGN INVESTMENT
Sale of Burger King back on the table but garnished with secrecy
Competition Tribunal to assess new terms for Grand Parade’s sale of the fast-food company to private equity group ECP Capital
18 August 2021 - 14:46
UPDATED 19 August 2021 - 23:06
The Competition Commission is no longer blocking the sale of SA’s Burger King franchise to a US private equity firm, allowing foreign direct investment and easing concerns about a hostile business environment.
Grand Parade, an investment house firm founded as a BEE partner to Sun International, has been trying to sell the franchise since early 2020 for R570m in a deal that will see dividends flow to shareholders, including many on the Cape Flats who have seen little income in recent years...
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