The proposed acquisition of JSE-listed Imperial Logistics by global supply chain solutions provider DP World for an estimated R12.7 billion cash has been conditionally approved by the Competition Tribunal. If DP World, which is ultimately controlled by the Dubai government, accepts the conditions imposed on the transaction by the tribunal, DP World will solely control Imperial Logistics, which will delist from the JSE.
Conditions The tribunal said on Thursday the proposed transaction is unlikely to substantially prevent or lessen competition in any market in South Africa and has been approved subject to public interest-related conditions. One of the conditions is the establishment of an employee share ownership programme through which employees in South Africa, excluding top and senior management, will have an effective 5% interest in Imperial Logistics South Africa Group , a subsidiary of Imperial.
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Competition Tribunal approves acquisition of Imperial Logistics by Dubai firmGreen light is conditional on the establishment of an employee share ownership programme and no retrenchments for three years 🔒
Fuente: BDliveSA - 🏆 12. / 63 Leer más »