All data is delayed
See More

SA reassures foreign investors: report

Apr 05 2011 10:58

Company Data


Last traded 114
Change 6
% Change 6
Cumulative volume 652298
Market cap 0

Last Updated: 02-10-2015 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Extra days for Walmart hearing

'State's request will hurt business'

Govt wants to stop Japanese deal

Massmart, Walmart mull legal options

Freeworld appeal dismissed

Kansai succeeds in Freeworld bid

Johannesburg - South Africa is not against foreign investment, Business Day reported on Tuesday, amid worries that its intervention in takeover hearings involving Walmart and Kansai Paint could put off investors.

Walmart is in the last stages of taking control of local retailer Massmart Holdings [JSE:MSM] for $2.3bn, a deal the government said would open floodgates to imports that would undermine domestic manufacturers.

Japan's Kansai Paint, which is in the middle of a $260m takeover of Freeworld Coatings [JSE:FWD], is also facing government opposition.

Business Day newspaper said the trade and industry department is worried that Kansai is taking over a unique South African technology that adds a local component in auto manufacturing.

"It's important to stress that the department is motivated by these considerations and this intervention should not be construed as opposition to foreign direct investment," Lionel October, the department's acting director general was quoted as saying.

No one in the department could immediately comment.



Read Fin24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


With infrastructure spending having been identified as one of the key focus areas of the National Development Plan, tradesmen will continue to play a critical role in growing the South African economy through their skills..

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

A 30% a month return on investment is:

Previous results · Suggest a vote