The Competition Commission has recommended that Nedbank acquisition of JSE-listed industrial group enX's fleet-management business Eqstra be approved without conditions.
The proposed transaction is unlikely to lessen or prevent competition substantially in any market, it said in a statement on Friday, also not raising any public interest considerations.
Nedbank said late in 2023 it intends to combine Eqstra with its own fleet management business as it looks to build scale, with the deal valued at about R2.5 billion.