Nedbank gets the nod from Competition Commission to acquire enX's fleet management business

The Competition Commission has recommended that Nedbank acquisition of JSE-listed industrial group enX's fleet-management business Eqstra be approved without conditions.

The proposed transaction is unlikely to lessen or prevent competition substantially in any market, it said in a statement on Friday, also not raising any public interest considerations. Nedbank said late in 2023 it intends to combine Eqstra with its own fleet management business as it looks to build scale, with the deal valued at about R2.5 billion.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.

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