Competition Commission Gives The Green Light
21 Sep 2016
McDonald’s South Africa can confirm that there is a process underway to find a suitable replacement for Mr. Ramaphosa, the current McDonald’s Developmental Licensee for South Africa. The potential purchaser, MSA Holdings, is a company based in the United Arab Emirates.
This is in line with the public statement by Mr Ramaphosa on his election to the position of ANC Deputy President in December 2012, that he would undertake a review of his business interests.
The proposed transaction has recently been approved by the Competition Commission and we can confirm that MSA Holdings is not currently involved in the restaurant business in South Africa. All parties to the transaction and their professional advisors have signed extensive confidentiality agreements regarding the proposed transaction and no further comments can be provided at this stage.
For more information please contact Tracey Miller, McDonald’s SA Corporate Communications Manager on 061 114 5916 or email on email@example.com