Commission grants approval for England-based Prax to acquire Natref

The Competition Commission has conditionally approved a proposed transaction between Prax South Africa and the National Petroleum Refiners of South Africa (Natref), whereby the former intends to acquire the latter.

Prax is ultimately controlled by a firm incorporated in England called State Oil Limited, which is, in turn, controlled by Prax Group Holdings, which is also based in England.

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