Blocks Burger King deal based on not selling to BEE/PDI shareholders. So now all our black industrialists and BEE shareholders can sell to nobody except black locals. https://t.co/ExX0m6uxMWGrand Parade Investment's share price slumps after Burger King deal banThe Competition Commission has prohibited a proposed takeover of Burger King in South Africa by an international private equity fund. Last year, the struggling Grand Parade Investments announced that it would sell Burger King South Africa and Grand Foods Meat Plant, which primarily supplies Burger King with patties, to a fund owned by Emerging Capital Partners (ECP). But the Competition Commission on Tuesday prohibited the transaction, objecting to the lack of black shareholding.

Source: News 24 June 01, 2021 09:59 UTC