The South African Competition Authority recommends approving an acquisition subject to several conditions (PepsiCo / Pioneer)

South Africa: PepsiCo acquisition of Pioneer recommended for approval, at a price!* On 11 February 2020, the South African Competition Commission (SACC) recommended that PepsiCo’s acquisition of Pioneer Foods, be approved, subject to a number of conditions. Despite there being no material overlap between the parties which give rise to any competition concerns, the Commission has proposed substantial public interest related conditions – including the establishment of an enterprise development fund and a BBBEE deal worth R1.6 billion in order to spread ownership among historically disadvantaged persons. It is not yet confirmed whether