South Africa to Intervene on Kansai, Freeworld Deal, Business Day Reports
South Africa’s Department of Trade and Industry plans to intervene in Kansai Paint Co.’s takeover of Freeworld Coatings Ltd. (FWD) on grounds of public interest, Business Day reported, citing Kansai’s legal adviser, Jean Meijer.
The department’s application will be heard at the end of August, the Johannesburg-based newspaper reported. The country’s Competition Tribunal suspended a condition that required Kansai to divest of Freeworld’s automotive coatings joint venture in Port Elizabeth and Durban with DuPont & Co., Business Day said.
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