Merger Alert: Outcome of mergers decided by the Tribunal - 2 March 2022
| Type of matter | Parties involved | Tribunal Decision |
| Large merger | Twin City Western Cape (Pty) Ltd And Waterway House Section Two (Pty) Ltd | Approved without conditions |
| Large merger | TLG MidCo (Pty) Ltd and The Logistics Group (Pty) Ltd | Approved with conditions |
Twin City Western Cape (Pty) Ltd And Waterway House Section Two (Pty) Ltd
The Tribunal has unconditionally approved the large merger wherein Twin City Western Cape (Pty) Ltd (“Twin City Western Cape”) intends to acquire shares in Waterway House Section Two (Pty) Ltd (“Waterway House”) from The Club Retail Park (Pty) Ltd.
Post-merger, Twin City Western Cape and V&A Waterfront (Pty) Ltd will have joint control of Waterway House.
The primary acquiring firm is Twin City Western Cape. It is a property investment company. The primary target firm, Waterway House, is a property holding company.
TLG MidCo (Pty) Ltd and The Logistics Group (Pty) Ltd
The Tribunal has conditionally approved the large merger whereby TLG Midco (Pty) (“TLG Midco”) intends to acquire The Logistics Group (Pty) Ltd (“TLG”). Upon the implementation of the proposed transaction, TLG MidCo will exercise control over TLG.
The transaction has been approved with conditions relating to the implementation of an empowerment transaction that involves increasing the levels of ownership by historically disadvantaged persons.
TLG MidCo and its direct controller, TLG Acquisition Holdings, were established for the purposes of the proposed transaction and thus do not undertake any business activities in South Africa or elsewhere.
The TLG Group operates strategic logistical and terminal assets in Southern Africa including port and rail terminal services, warehousing facilities and digital transport technology services.
A full press release will be issued in due course.
Issued by:
Gillian de Gouveia, Communications Officer
On behalf of the Competition Tribunal of South Africa
Cell: +27 (0) 82 410 1195
E-Mail: GillianD@comptrib.co.za
Twitter: @comptrib
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