PRETORIA – Footgear, the South African retailer of branded and non-branded footwear, on Thursday received the green light to purchase the assets and business associated with Edcon Limited’s Edgars Active and High Key brands.
The Competition Commission has recommended that the Competition Tribunal approve the proposed transaction without conditions.
The Cape Town-based footwear retailer with 63 stores announced in July it had acquired the Edgars Active and High Key chain stores for an undisclosed amount.
But the transaction was subject to conditions precedent, including regulatory approvals.
Footgear’s majority shareholder Old Mutual Private Equity is backing the deal.