Share

Tribunal hearing on McDonald's deal

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.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.2%
Rand - Pound
23.91
-0.1%
Rand - Euro
20.43
+0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.2%
Platinum
910.50
+1.5%
Palladium
1,011.50
+1.0%
Gold
2,221.35
+1.2%
Silver
24.87
+0.9%
Brent Crude
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders