The Competition Commission has approved the sale of Murray and Roberts’ (M&R’s) infrastructure and building (I&B) platform to Firefly Investments 319, without conditions.
M&R has undergone significant restructuring in recent years that will result in it exiting the general building and civil engineering sector to become a project company focused on the oil and gas, underground mining, power and water sectors.
Firefly is a newly established firm created for the purposes of the proposed transaction and currently does not have any business operations.
The I&B platform operations are involved in civil engineering, general building and road and earthworks, opencast mining, main civil works for power stations, construction plants and equipment, and property development.
“The proposed transaction is unlikely to substantially prevent or lessen competition and does not raise any public interest concerns,” the commission said in a statement.