Tribunal approves Barnes Southern Palace’s acquisition of Scaw

The Competition Tribunal has conditionally approved the transaction, in terms of which holding company Barnes Southern Palace plans to acquire Scaw South Africa from the Industrial Development Corporation (IDC). To address information sharing concerns, the transaction was approved subject to a condition that, for as long as the IDC is able to appoint directors to the respective boards of CWI and Scaw, the IDC will ensure that its representatives on the board of Scaw are not the same persons serving, nominated and/or appointed on any board or management committees or subcommittees of CWI.