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Competitions Tribunal approves IDC sale of Scaw


In 2012, the IDC bought a 74% stake in Scaw from Anglo American for R3.4bn.

To this end, the tribunal’s conditions tackle concerns over the sharing of competitively sensitive information between Barnes Southern Palace and Consolidated Wire Industries (CWI), a producer of mild steel wire and wire products that is jointly owned by ArcelorMittal SA, Scaw and the IDC.

"The nominees appointed by the IDC to Scaw’s board shall not have served on the board, management committees or subcommittees of CWI for a period of one year prior to being nominated to the board of Scaw," read part of the statement released by the tribunal said on Monday.

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