CA backtracks on CEDA shares deal

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Holdings companies of Aon Botswana and Bomaid can now buy back shares in their respective firms currently held by the Citizen Entrepreneurial Development Agency (CEDA) following a conditional compromise by the Competition Authority (CA), which had earlier rejected the two transactions.

Through a venture capital fund, CEDA holds shares in the two companies. An earlier attempt to divest and sell the stakes back to the two firms had been blocked by the CA.

In a determination last December, the CA said it had blocked the transaction on public interest concerns, arguing that CEDA should sell to Batswana in the spirit of citizen empowerment. In a statement released yesterday, the CA said following an appeal by the two firms, a compromise has been reached and CEDA can now sell the shares directly to AON and Bomaid.

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