Gen - The Competition Tribunal - Press Release - T
JSE
GEN
Gen - The Competition Tribunal - Press Release - Tribunal approves Bain/Edcon
merger
Tribunal approves Bain/Edcon merger
The Competition Tribunal, has today, 25 April 2007, unconditionally approved the
merger between (Bidco - a special purpose vehicle acquired by Bain Capital in
order to facilitate the acquisition of Edcon) and Edgars Consolidated Stores
(Edcon).
Bidco intends to acquire the entire issued share capital of Edcon by way of two
schemes of arrangement. The first scheme would entail the ordinary shareholders
of Edcon selling their shares in Edcon to Bidco. The second scheme entails
preference shareholders of Edcon selling their preference shares to Bidco. On
completion of the transaction the retail business of Edcon will ultimately be
owned by Bidco.
Issued by: Jane Sussens
Communications Advisor
The Competition Tribunal
Tel: (011) 483 2687
Cell: 082 920 0875
Fax: (011) 483 2686
E-Mail: jane.sussens@mweb.co.za
On Behalf of: Lerato Motaung
Registrar
The Competition Tribunal
Tel: (012) 394 3355
Cell: 082 556 3221
E-Mail: leratom@comptrib.co.za
Date: 25/04/2007 14:00:03 Produced by the JSE SENS Department.
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