The Bonheur Consortium has pulled out of a deal to buy Komatiland Forests (KLF) in South Africa.
Bonheur, which consists of Global Forest Products and Imbokodva Lemabalabala, said opposition to the proposed acquisition from the forestry industry had influenced its decision.
Bonheur’s withdrawal came shortly after resumption of a competition tribunal hearing into the merger.
The Londoloza-Paharpur consortium is the government’s reserve bidder for KLF.
