• South Africa
• Barloworld, Independent Expert, MAC clause, Rothschild & Co, Tongaat Hulett
• September 22, 2020

The deal was originally announced in March. Barloworld would buy the Starch division from Tongaat Hulett for R5.35 billion in a critical move for Tongaat which is on a recovery road. As ever, the deal remained subject to shareholder and regulatory approvals. The norm for corporate transactions is to include something called a Material Adverse Change clause, or MAC clause. …