South Africa: Kalahari, Takealot merger is legally approved

Friday 9 January 2015 13:47 CET | News

The Competition Commission (CC) has approved, with conditions, the intermediate merger between the South African online retailers Takealot and

The merger will be implemented in two steps: in the former step, Takealot will acquire Kalahari from MIH Internet Africa whereas, in the latter step, Tiger Global, the investing company of Takealot, will cede part of its shares in the online retailer to MIH. As such, Tiger Global and MIH will become equal shareholders in the merged entity, reports.

However, CC stipulates, as a condition for the approval of the merger, that no more than 200 employees will be dismissed and training courses will be established to support the laid off personnel.

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Keywords: South Africa, Takealot,, merger, purchase, competition commission, strategy, shareholders
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce