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South Africa: Two-part newspaper buyout passes CC test

By  |  August 15, 2013
South Africa: Two-part newspaper buyout passes CC test

South Africa’s Competition Commission offered clearance, with concessions, to a two-part buyout of the Independent News & Media South Africa by two media conglomerates. The first part of the buyout, which saw Sekunjalo Independent Media acquire 75 percent of INMSA and Public Investment Corporation acquire 25 percent, was cleared last month. Now, the watchdog has cleared a reduction in Sekunjalo’s share down to 55 percent with newly established media company Newco joining the transaction. PIC will not have control over INMSA operations, say reports. The Commission cleared the deal finding no competitive overlap in the acquirers.

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