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- The Competition Commission has approved the takeover of Tongaat Hulett by the Mauritius-based company Magister Investments. Magister is closely linked to cut-price cigarette producer Gold Leaf Tobacco.
- The conditions for the deal include that Magister must stick to investment commitments in Tongaat.
- Also, workers may not be retrenched as a result of the transaction and must set up an employment share ownership plan.