A merger at the gates of the European Union

Article Abstract:

Nova hut (Ostrava, Czech Republic), Vitkovice (Ostrava, Czech Republic) and Trinecke zelezarny (Trinec, Czech Republic), metallurgy firms, will set up a consortium. The final contract on their co-operation should be arranged at the end of November 1999. The main aim of the metallurgy firms is the coordination of their activities, mainly in the field of investment, production, technology and strategy. The worth of the consortium's property should be over 30 bil Kc. Its outputs should be 75 bil Kc. All the companies produced nearly 6 mil t of steel in 1998. The consortium wants to take the 30th position on the global steel production market.

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First-world institutions

Article Abstract:

Foreign investors are attracted to South Africa partly because of its 'first world' regulatory, legal and accounting structure for investment and mergers and acquisitions. South Africa has adopted the generally accepted accounting practice (GAAP) and continues to develop this. As far as competition policy goes, the Competition Board is expected to be given wider powers, although this could have both negative and positive effects on merger activity. In Nov. 1995, the Johannesburg Stock Exchange will undergo a 'Little Bang' with reforms including a move towards screen based trading.

Foreign investments, Laws, regulations and rules, Stock-exchange, Stock exchanges, South Africa, Financial markets, Johannesburg Stock Exchange

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