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South Africa's competition watchdog recommends approval of AngloGold-Harmony deal

Reuters
·1-min read
FILE PHOTO: A worker pours gold at the AngloGold Ashanti mine at Obuasi, Ghana

(Reuters) - South Africa's competition watchdog said on Friday it had asked the country's Competition Tribunal to approve the proposed acquisition of some of AngloGold Ashanti's <ANGJ.J> assets by Harmony Gold <HARJ.J>, without any conditions.

The Commission said it had found the proposed transaction was unlikely to result in a substantial prevention or lessening of competition in any relevant markets.

AngloGold Ashanti said in February it would sell its remaining South African assets for about $300 million to Harmony, as part of its plan to shrink its portfolio.

(Reporting by Shanima A in Bengaluru; Editing by Aditya Soni)