While the Competition Tribunal of South Africa has given its approval for the Mondi Group to proceed with the simplification of its corporate structure, it is conditional on a number of commitments to be undertaken by the group.
A statement by Mondi said that the group had a complex dual-listed company structure, with a primary listing on the Johannesburg Stock Exchange (JSE), and a premium listing on the London Stock Exchange (LSE).
The simplification was intended to bring this into a single structure under Mondi plc, with a premium listing on the LSE and an inward secondary listing on the JSE.
Mondi Group spokesperson Kerry Cooper told Farmer’s Weekly that the move would simplify cash and dividend flows, increase transparency, remove the complexity of the current structure, and enhance strategic flexibility. It would also facilitate continued investment in the Mondi Group’s South African operations.
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