CA approves RMB, Investec deal

The 10 companies, housed under the name Kamoso Distribution were two years ago sold by Choppies directors, Ramachandran Ottapathu and Farouk Ismail to a consortium led by Standard Chartered Private Equity (PE) in a deal worth P452 million. In a statement released yesterday, the CA said the deal will not likely reduce competition in the industry, but can only go ahead if it’s not going to result in job losses.

“The Authority determined through the analysis of the facts of the merger, that the proposed transaction is not likely to result in the prevention or substantial lessening of competition.