Competition watchdog approves Greenstreet’s acquisition of Solar Capital De Aar 3

SOUTH AFRICA – Competition Tribunal of South Africa has approved, without conditions, the transaction whereby Greenstreet, through its Stanlib Fund II SPV, will acquire shareholding in Solar Capital De Aar 3 (SCDA 3) from existing shareholders Post-merger, said the regulator, Stanlib Fund II SPV will exercise joint control over SCDA 3. Stanlib Fund II SPV is a private equity investment fund established to acquire a portfolio of infrastructure assets and is ultimately controlled and owned by Stanlib Asset Management, which is, in turn, wholly-owned and controlled by Stanlib, it added. The tribunal…

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Competition Tribunal of South Africa gives nod to sale of Tongaat Hulett’s starch business

SOUTH AFRICA – The Competition Tribunal of South Africa has approved the acquisition of Tongaat Hulett’s Starch business by Barloworld subsidiary, KKL Group for R5.35billion (US$342.6m). The agriculture and agri-processing company Tongaat Hulett stated that the decision was the third approval in the jurisdictions relevant to the transaction, with the Botswana Competition Commission and the Common Market for Eastern and Southern Africa (Comesa) Competition Commission having already approved the transaction without conditions. The final approval is awaited from the Indonesian Competition Commission, probably in the first week of August, reports IoL. “This…

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