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Mupane Gold approved for take-over

The Competition and Consumer Authority (CCA) has given the thumbs up to Mupane Gold mine takeover by Hawks Mining from Gallery Gold.

Hawks is a Special Purpose Vehicle (SPV) formed for the sole purpose of acquiring the mine.

In determining the proposed acquisition, CCA Chief Executive Officer (CEO), Tebelelo Pule said the proposed transaction involves the acquisition of shares by an SPV hence the two parties are not active in the same market.

As such, she indicated that it is not likely that the proposed acquisition would reduce the level of competition in the relevant market ...

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