South Africa: PAPE Fund Managers receives go-ahead for deal
Posted on: 5 May, 2020 at 5:24 PM
South Africa’s Competition Commission has approved the proposed merger whereby PAPE Fund III intends to acquire EOEC and Dispense Logic, a group involved in the supply of beverage dispensing equipment, refrigeration systems and air conditioning units.
PAPE Fund III, managed by PAPE Fund Managers, is a R950 million (about $51.72 million) generalist private equity fund investing in unlisted, mid-cap SME investments operating predominantly in South Africa.
The Commission found that the proposed transaction is unlikely to result in a substantial prevention or lessening of competition in any relevant markets. The Commission further found that the proposed transaction does not raise any public interest concerns.
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