South Africa’s government asked antitrust regulators to stop Kansai Paint Co. ’s takeover of Freeworld Coatings Ltd. , the second foreign purchase authorities in Africa’s largest economy have tried to block this year.
Prudence Moime looks up from stirring a pot of corn meal in front of her two-room shanty in northeastern South Africa and gazes across the surrounding rocky hillside. Just beyond her view lie some of the world’s best platinum deposits.
Carmakers including Toyota Motor Corp., Nissan Motor Co., Bayerische Motoren Werke AG and General Motors Co. shut production in South Africa as about 30,000 workers began a strike to demand higher wages.
South Africa’s automotive industry strike could end next week if manufacturers including Toyota Motor Corp. and Volkswagen AG sweeten their wage offer, the National Union of Metalworkers of South Africa said.
South Africa’s Department of Trade and Industry plans to intervene in Kansai Paint Co.’s takeover of Freeworld Coatings Ltd. on grounds of public interest, Business Day reported, citing Kansai’s legal adviser, Jean Meijer.