CASHBUILD LIMITED - Further update – Cashbuild Acquisition of The Building Company
Further update – Cashbuild 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")
FURTHER UPDATE - CASHBUILD’S ACQUISITION OF THE BUILDING COMPANY
Cashbuild shareholders are referred to the SENS announcements released by the Company on:
• 4 August 2020 where the Company announced that it had entered into a definitive sale and
purchase agreement on 3 August 2020 with Pepkor Holdings Limited to acquire 100% of the
issued share capital of The Building Company Proprietary Limited (the “Transaction”); and
• 28 May 2021 where shareholders were advised that the Competition Commission announced
their recommendation that the Transaction be prohibited.
The approval of the Transaction by the Competition Commission was a material suspensive
condition which was required to be fulfilled in order to implement the Transaction.
Consequently, given that not all the suspensive conditions would be met by the long stop date of
16 August 2021 and the parties are unable to agree on an extension to the long stop date, the
Transaction is regrettably terminated.
12 August 2021
Johannesburg
Financial Advisor and Transaction Sponsor: Investec Bank Limited
Legal Advisor: Webber Wentzel
Date: 12-08-2021 07:30:00
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