From SAnews.gov.za via AllAfrica

The Competition Commission has approved with conditions the intermediate merger that will see Takealot Online (Pty) Ltd acquiring Kalahari.com.

Both merging parties are active in the online retailing of consumer goods and products. The merger will be implemented in two steps.

“In the first step of the transaction, Takealot will acquire Kalahari from MIH Internet Africa (Pty) Ltd (MIH), and in the second step of the transaction, Tiger Global – which is a parent company of Takealot – will reduce its shares in Takealot in favour of MIH such that Tiger Global and MIH will hold equal shareholding in the merged entity.

“Both merging parties are active in the online retailing of consumer goods and products. There are public interest concerns arising from this proposed transaction, specifically in respect of employment.

“To address the employment concerns, the Commission imposed a condition that no more than 200 employees will be retrenched as a result of the merger. A training/res-skilling fund will also be established to support the affected employees,” the Competition Commission said.

Read more at AllAfrica