Green light for Gal­lus merger

The Mercury - - BUSINESS REPORT -

THE COM­PE­TI­TION Com­mis­sion has ap­proved the merger of Gal­lus Hold­ings and JSE-listed poul­try pro­ducer Sov­er­eign Foods, say­ing the trans­ac­tion was un­likely to pre­vent or lessen com­pe­ti­tion in any mar­ket. The merger also did not raise any pub­lic in­ter­est con­cerns, the com­mis­sion said yes­ter­day. Gal­lus is a newly in­cor­po­rated en­tity that man­ages pri­vate eq­uity funds un­der its man­age­ment from in­ter­na­tional and do­mes­tic in­vestors, in­clud­ing com­mer­cial banks, in­sur­ance com­pa­nies, pen­sion funds and high net worth in­di­vid­u­als. Sov­er­eign Foods, which has op­er­a­tions in Uiten­hage, Eastern Cape, and Hart­beespoort, North West, is a lead­ing poul­try pro­ducer. – Luy­olo Mken­tane

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