S. Africa Approves Retailability Acquisition of Parts of Edgars

Competition Tribunal approves clothing retailer Retailability’s acquisition of parts of the Edgars business as a going concern, with employment conditions, it says in emailed statement.

• Merger forms part of a voluntary business rescue process initiated by Edcon
• Tribunal approved the transaction on condition that the merger parties won’t retrench any employees on account of the merger for a period of three years
• The acquiring firm will give preference to any former Edcon employees should vacancies arise within this period
• NOTE: Competition Commission found the merger will result in 5,200 jobs being saved

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