THE BIDVEST GROUP LIMITED - ANNOUNCEMENT
The Bidvest Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1946/021180/06)
(Share code: BVT)
(ISIN: 1946/021180/06)
("Bidvest")
ANNOUNCEMENT
The following is an extract from an announcement made today, June 28 2002,
in the United Kingdom ("UK") by Bidvest plc, an 81 per cent. subsidiary of
Bidvest:
"Response to DTI Announcement
Bidvest plc notes today`s announcement by the Secretary of State for Trade
and Industry concerning her reference of Bidvest plc`s possible acquisition
of, or merger with, Brake Bros plc ("Brake Bros") to the Competition
Commission.
In light of the announcement on 25 June by Clayton Dubilier & Rice, Inc. and
Brake Bros and this decision, Bidvest plc has decided not to pursue any form
of combination with Brake Bros.
Brian Joffe, Chairman of Bidvest plc, said:
"I am obviously disappointed by this decision and strongly believe that the
proposed acquisition would not have led to unacceptable levels of
concentration in the UK foodservice sector.
3663, Bidvest plc`s foodservice operation in the UK, has a strong market
position in its own right, is performing well and is well-placed to pursue
alternative growth opportunities, both organically and by acquisition.""
Johannesburg
June 28 2002
Merchant Lead Co-sponsor Attorneys to Financial
Bank to sponsor to to Bidvest Bidvest advisor to
Bidvest Bidvest Deutsche Werksmans Bidvest plc
Investec Investec Securities HSBC
Corporate Securities
Finance
Date: 27/06/2002 05:58:57 PM Produced by the SENS Department
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