Commission recommends Tiso Blackstar, Robor merger | Fin24
 
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Commission recommends Tiso Blackstar, Robor merger

Oct 15 2015 17:36

Cape Town - The proposed merger between the Tiso Blackstar Group and Robor should be approved without conditions, according to the Competition Commission.

The commission said on Thursday this is what it has recommended to the Competition Tribunal.

Tiso is an investment holding company with interests in media and entertainment, steel and real estate. The group is dual listed with a primary listing on the AIM of the London Stock Exchange and a secondary listing on the AltX of the JSE. It has a particular focus on businesses within sub-Saharan Africa.

Robor is a manufacturer and supplier of welded tubes and pipes, cold formed steel profiles and associated value added products.

In July Tiso said in a statement that it wanted to increase its current stake in Robor to 51% because of the growth potential it sees in the company due to increased demand for its kin. The deal is reportedly worth almost R30m.

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