AFC cleared to buy SA road tolling agency
From OKORO CHINEDU in Lagos, Nigeria
LAGOS, (CAJ News) – SOUTH Africa’s Competition Commission has approved the intermediate acquisition of South African Toll Road Company (SATRC) by the Lagos-based Africa Finance Corporation (AFC).
Itumeleng Lesofe, the commission’s spokesperson, confirmed the development but figures could not be ascertained.
The commission found the proposed transaction was unlikely to substantially prevent or lessen competition in any market as there was no overlap between the activities of the merging parties.
In addition, the proposed transaction does not raise any public interest concerns.
Major shareholders in AFC include the Central Bank of Nigeria and United Bank for Africa Plc.
AFC provides project structuring expertise and risk capital advice to address and facilitate Africa’s infrastructural development.
It also provides advisory services, project development capacity, and funding in core infrastructure sectors of power, natural resources and telecommunications.
SATRC is an investment company that holds investments in infrastructure and infrastructure-related assets.
It is controlled by the South Africa Infrastructure Fund Trust.
– CAJ News
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