SAVCA questions Competition Commission's adverse ruling on Burger King sale

Southern Africa Venture Capital and Private Equity ("SAVCA") director Langa Madonko unpacked the adverse ruling handed down by the Competition Commission on Grande Parade's sale of Burger King to private equity buyer Emerging Capital Partners ("ECP"). The transaction was blocked due to concerns related to the BEE credentials of the the private equity fund. Grande Parade, listed on the local bourse, had obtained shareholder approval for the sale of the fast-food outlet. The ruling was not blocked on the basis of anti-competitive practices. All things considered, Grande Parade shareholders should feel aggrieved. This is also a concerning precedent going forward for similar type transactions. Learn more about your ad choices. Visit megaphone.fm/adchoices