All eyes are on the Competition Commission conditions likely to be attached to the Milco acquisition
As the clock ticks down to the conclusion of international consortium Milco’s acquisition of Clover in May, all eyes are now on the conditions likely to be attached to the transaction.
It was this outrage that prompted black-owned and managed investment group Brimstone, the consortium’s SA partner, to walk away from the deal. Brimstone, which was set to own 15% of Clover after the conclusion of the sale, dropped the bombshell several weeks after the deal was announced in early February.
It is the Competition Commission that elicits the most interest. This has nothing to do with the deal failing the competition hurdle. Recent history shows that the department of economic development does not let deals of this size go through without extracting public interest undertakings.
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