Shutdown of 72-year-old factory in South Africa could blow up R6.5 billion merger

The Competition Commission is moving to revoke approval of the R6.5 billion merger between Premier Group and RFG Holdings, citing a breach of conditions that included employment protections. The shutdown of a 72-year-old factory in Tulbagh, Western Cape, in July, which was a key condition, has sparked the commission's action. The commission's decision highlights the importance of transparency in large mergers, and raises concerns about the impact on workers who may face job losses as a result of the deal.