BusinessLive reports that dairy products producer Clover Industries indicated on Thursday that it might appeal against the conditions set by the Competition Tribunal on its merger with the Milco consortium.  

On Wednesday, the tribunal approved the takeover of Clover by Milco, which is led by the Tel Aviv-based Central Bottling Company (CBC), following a recommendation by the Competition Commission that the R4.8bn transaction be given the nod subject to conditions.  The deal will result in the delisting of Clover.  The conditions relate to employment, procurement of juice concentrate from local processors, and an information sharing protocol.  Clover said in a statement that together with Milco it could appeal against the tribunal’s decision as the competition authority had diverted from the conditions the merging parties had proposed.  It said the companies were assessing the impact of the “deviation” by the tribunal from the proposed conditions “and reserve their right to appeal the conditions in due course, but any such appeal will have no impact on the implementation of the Clover scheme”.  During public hearings on the merger, the General Industries Workers’ Union (Giwusa) and Inqubelaphambili Trade Union (ITU) had said the tribunal should block the deal as it would result in the loss of jobs.

• Read the full original of the report in the above regard by Siseko Njobeni at BusinessLive

Read too, Clover to delist from JSE on Wednesday ahead of Milco merger, on page 18 of The Sunday Independent of 29 September 2019

Get other news reports at the SA Labour News home page