GRAND PARADE CANS SPUR DEAL
Empowerment group Grand Parade Investments (GPI) has cancelled a deal that would’ve seen it buy up to 19.46m shares in Spur from Coronation Fund Managers. In terms of the deal, GPI would have paid R40 a share, substantially above the R32.51 Spur was trading at on the JSE at the time of writing on 30 November. GPI already owns a 10% stake in Spur. The empowerment company said certain shareholders did not support the deal, but declined to disclose the identities, Business Day reported. Major shareholders in GPI, which is rolling out the Burger King franchise in SA, include Sanlam and Investec.