The Competition Commission has recommended that Pepkor’s plan to sell the Building Company to Cashbuild for R1bn be prohibited, arguing that the merger of the two hardware companies would create a dominant supplier of building material in SA.
Pepkor, owner of Ackermans and Incredible Connection, wanted to sell the Building Company so that it could focus on its core brands, which are consumer-facing, Pepkor CEO Leon Lourens previously told Business Day. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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