COMPETITION MATTERS
The Competition Commission has recommended that the Competition Tribunal approve the proposed transaction, with conditions, whereby Barnes Southern Palace intends to acquire steel maker Scaw from the Industrial Development Corporation (IDC). Barnes Southern Palace is a consortium involving the Barnes Group Holdings and Southern Palace Group, where Barnes and its subsidiaries and affiliated companies are active in the manufacturing of wire, wire products and other related products, while Southern Palace is a wholly-owned and managed black investment holding company with diverse interests in real estate, industrial companies, information technology, metals, mining and construction. Scaw currently comprises four divisions, namely cast products, grinding media products, wire rod products and rolled products.
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