SA firm acquires CA Sales at P285m

According to the financial Mail, PSG Chief Executive Officer Piet Mouton, confirmed the acquisition amount and added that the investment holding company is also looking for other acquisitions in Africa. The Botswana Competition Authority (CA) early this year gave a provisional nod to the takeover of Botswana's top distribution company.

The conditions were that the new entity will not use the exclusive contracts CA Sales has with manufacturers of certain goods and commodities to abuse its massive market power in Botswana. PSG consists of 35 underlying companies with a combined market capitalisation of R71 billion that operate across industries that include financial services, banking, agriculture, education, construction, manufacturing, mining and energy saving.