The original article can be found here.
Article highlights:
- Pepkor’s proposed sale of hardware chain The Building Company (BUCO) to Cashbuild has been terminated after the two could not agree on an extended timeframe for the deal;
- Cashbuild said on Thursday that approval from the Competition Commission was a “material suspensive condition which was required to be fulfilled in order to implement the transaction”;
- With 228 stores in the country, Cashbuild is the largest hardware retailer in South Africa. BUCO is the second biggest, and the transaction would have created a new largest retailer of building material, hardware and related products in South Africa.
