TSL has announced the termination of its planned acquisition of a 51,43 percent stake in Nampak Zimbabwe (Nampak) despite having secured approval of the transaction from the Competition and Tariff Commission.In a public notice issued this week, TSL, however, did not disclose reasons for withdrawing from the deal.TSL last year made an offer to acquire…
TSL, Nampak deal collapses
The collapse of the deal is a major setback for Nampak Southern Africa Holdings, which has been bent on shedding some of its regional operations to reduce debt and concentrate on its core market, South Africa.