NAP appeals blocked P20m Maun deal

The competition watchdog recently blocked NAP from finalising the P20 million deal saying the transaction raised 'competition issues' as NAP already has a robust retail presence in Maun. The CCA ruled that the proposed transaction is likely to result in a substantial lessening of competition due to the removal of a competitor in the form of the target enterprise.

The CCA said its assessment of the proposed deal had shown that competition concerns would arise in the rental retail space in Maun should NAP be allowed to conclude its transaction. Also, the assessment done by CCA found cross-shareholding between an upcoming retail centre in Maun called Delta Palms Mall and NAP. The cross-shareholding is through a common shareholder called Cash Bazaar Holdings, which holds 19.9% equity in NAP.