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PEPKOR HOLDINGS LIMITED - Competition Commission Recommendation In Relation To The Disposal Of The Building Company

Release Date: 31/05/2021 07:30
Code(s): PPH PEP02 PEP01 PEP04 PEP03     PDF:  
Wrap Text
Competition Commission Recommendation In Relation To The Disposal Of The Building Company

Pepkor Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2017/221869/06)
Share code: PPH
Debt code: PPHI
ISIN: ZAE000259479
(“Pepkor” or the “Company”)


Pepkor shareholders and noteholders are referred to the SENS announcement released by the
Company on 4 August 2020 where it announced that it had entered into a sale and purchase
agreement on 3 August 2020 with Cashbuild Limited (“Cashbuild”), for Cashbuild to acquire
100% of the issued share capital of The Building Company Proprietary Limited (the

The Competition Commission announced their recommendation on Friday 28 May 2021 that the
Transaction be prohibited as, in their view, the merger will result in a substantial prevention or
lessening of competition in the market for building materials, hardware and related products in
South Africa.

The recommendation made by the Competition Commission will be considered by the
Competition Tribunal at a hearing where arguments from all parties will be considered in
finalisation of its ruling.

31 May 2021

Equity sponsor
PSG Capital

Debt sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

Legal advisor to Pepkor

Date: 31-05-2021 07:30:00
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