CASHBUILD LIMITED - Competition Commission recommendation on Cashbuild’s acquisition of the Building Company
Competition Commission recommendation on Cashbuild’s acquisition of the Building Company
CASHBUILD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/001503/06)
ISIN: ZAE000028320
JSE share code: CSB
("Cashbuild" or "the Company")
COMPETITION COMMISSION RECOMMENDATION ON CASHBUILD’S ACQUISITION OF THE
BUILDING COMPANY
1. INTRODUCTION
Cashbuild shareholders are referred to the SENS announcement released by the Company on 4 August
2020 where it announced that it had entered into a definitive sale and purchase agreement (“SPA”) on
3 August 2020 with Pepkor Holdings Limited (“Pepkor”) to acquire 100% of the issued share capital of
The Building Company Proprietary Limited (“TBC”) (the “Transaction”).
2. COMPETITION COMMISSION RECOMMENDATION
The Competition Commission has today announced their recommendation that the Transaction be
prohibited as, in their view, the merger will result in a substantial prevention or lessening of competition
in the market for building materials, hardware and related products in South Africa.
It should be noted that this is only a recommendation at this stage and the Competition Tribunal must
still hear arguments from all parties before determining a ruling.
28 May 2021
Johannesburg
Financial Advisor and Transaction Sponsor: Investec Bank Limited
Legal Advisor: Webber Wentzel
Date: 28-05-2021 05:28:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
