Johannesburg - The Competition Tribunal will on Wednesday hear three proposed mergers, including that of Shanduka Restaurants and McDonalds SA.
Known as Business Venture Investment, Shanduka Restaurants is ultimately controlled by Cyril Ramaphosa and Standard Bank Group [JSE:SBK] among others, and it intends to buy the entire issued share capital of McDonalds. Shanduka, in turn, owns Auram Restaurant.
In terms of the merger agreement, Auram will have the licence to own and operate the McDonalds restaurants in SA for 20 years.
According to the merging parties, the acquisition presents an opportunity for the Shanduka group of companies to diversify into other growing sectors of the economy - in this case the fast food market.
The Competition Commission has recommended that the tribunal approve the transaction without conditions.
The tribunal will also hear the proposed merger between Investec Property and Edgardale Properties, which comprises office blocks and warehouse space in Gauteng.
The Competition Commission has assessed the merger and concluded that it would not raise any substantial competition concerns, and recommended that the tribunal approve the merger without conditions.
The third deal under consideration is the proposed acquisition of Davita Trading by Tiger Brands [JSE:TBS]. Davita is a manufacturer and distributor of powdered food stock and powdered soft drink products.
This was also approved without conditions by the commission.
Known as Business Venture Investment, Shanduka Restaurants is ultimately controlled by Cyril Ramaphosa and Standard Bank Group [JSE:SBK] among others, and it intends to buy the entire issued share capital of McDonalds. Shanduka, in turn, owns Auram Restaurant.
In terms of the merger agreement, Auram will have the licence to own and operate the McDonalds restaurants in SA for 20 years.
According to the merging parties, the acquisition presents an opportunity for the Shanduka group of companies to diversify into other growing sectors of the economy - in this case the fast food market.
The Competition Commission has recommended that the tribunal approve the transaction without conditions.
The tribunal will also hear the proposed merger between Investec Property and Edgardale Properties, which comprises office blocks and warehouse space in Gauteng.
The Competition Commission has assessed the merger and concluded that it would not raise any substantial competition concerns, and recommended that the tribunal approve the merger without conditions.
The third deal under consideration is the proposed acquisition of Davita Trading by Tiger Brands [JSE:TBS]. Davita is a manufacturer and distributor of powdered food stock and powdered soft drink products.
This was also approved without conditions by the commission.