Commission recommends Tiso Blackstar, Robor merger

(iStock)
(iStock)

Cape Town - The proposed merger between the Tiso Blackstar Group and Robor should be approved without conditions, according to the Competition Commission.

The commission said on Thursday this is what it has recommended to the Competition Tribunal.

Tiso is an investment holding company with interests in media and entertainment, steel and real estate. The group is dual listed with a primary listing on the AIM of the London Stock Exchange and a secondary listing on the AltX of the JSE. It has a particular focus on businesses within sub-Saharan Africa.

Robor is a manufacturer and supplier of welded tubes and pipes, cold formed steel profiles and associated value added products.

In July Tiso said in a statement that it wanted to increase its current stake in Robor to 51% because of the growth potential it sees in the company due to increased demand for its kin. The deal is reportedly worth almost R30m.

ZAR/USD
17.37
(+0.65)
ZAR/GBP
22.65
(+0.83)
ZAR/EUR
20.49
(+0.24)
ZAR/AUD
12.42
(+0.67)
ZAR/JPY
0.16
(+1.06)
Gold
1935.96
(+1.58)
Silver
25.43
(+2.44)
Platinum
924.51
(+0.86)
Brent Crude
44.46
(-1.09)
Palladium
2128.99
(+2.01)
All Share
57273.64
(+0.18)
Top 40
52948.66
(+0.22)
Financial 15
10186.29
(-0.29)
Industrial 25
76117.05
(+0.78)
Resource 10
58453.33
(-0.38)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 967 votes
It depends on how the funds are used.
74% - 6443 votes
No. We should have gotten the loan elsewhere.
15% - 1333 votes
Vote