ABSA Bank Ltd And The Custody, Trustee, Derivatives Cleaning Business of Societe Generale S.A (SOCGEN) Johannesburg Branch and Global Custody Services Performed by via Foreign Sub-Custodians

Case number: LM021May19
Case parties: Primary Acquiring Firm: ABSA Bank Ltd
Primary Target Firm: The Custody, Trustee, Derivatives Clearing Business
Case type: Large Merger
Type of merger: Horizontal
Case status: Reasons Issued
Outcome: Approved
Order date: 2019-06-12
Sector: Financial and insurance activities
Industry: Other financial service activities, except insurance and pension funding activities.
Relevant market: The market for the provision of (i) equity derivatives clearing services, (ii) currency derivatives clearing services, (iii) interest rate derivatives clearing services (iv) and the broad market for the provision of derivatives clearing services.
Competition Tribunal Members: Norman Manoim, Mondo Blessing Mazwai, Medi Mokuena