Competition Commission clears Sasfin’s R201m Capitec Rental Finance deal
The Competition Commission has approved Sasfin Capital’s proposed acquisition of Capitec Rental Finance for R201 million, subject to conditions including a temporary moratorium on merger-related retrenchments.
The Competition Commission has approved Sasfin Capital's acquisition of Capitec Rental Finance, subject to conditions, clearing the way for the R201 million deal. The Commission announced the decision on Wednesday, stating that the transaction is unlikely to substantially lessen or prevent competition in any market. Sasfin Capital, an investment holding group, will acquire CRF, which provides asset-backed equipment rental finance to corporate and small and medium-sized enterprise (SME) customers.
Capitec Rental Finance will continue to fund the rental finance business through a secured R1.6 billion credit facility after the transaction closes.
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