Merger Alert: Outcome of mergers decided by the Tribunal - 20 October 2022
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Type of matter | Parties involved | Tribunal Decision |
| Large merger | Motus Group Ltd And Sandown Motor Holdings (Pty) Ltd | Approved without conditions |
| Large merger | KZN Pension House (Pty) Ltd And Vividend Income Fund Limited in Respect of the Letting Enterprise Known as SARS Durban | Approved without conditions |
| Large merger | Royale Energy (Pty) Ltd And Fuelex (Pty) Ltd | Approved with conditions |
Motus Group Ltd And Sandown Motor Holdings (Pty) Ltd
The Tribunal has unconditionally approved the merger whereby the Motus Group Ltd (“Motus”) intends to acquire: the business of three Mercedes-Benz passenger vehicle dealerships; one commercial vehicle dealership; and a portion of an administrative function that services these dealerships (the “target business”) from Sandown Motor Holdings (Pty) Ltd (“Sandown”).
The Motus Group is involved in vehicle importation, vehicle distribution and dealerships, vehicle rental, after-market and vehicle-related financial services. The target business is involved in the sale of new and used Mercedes-Benz passenger vehicles, light commercial vehicles and other commercial vehicles.
KZN Pension House (Pty) Ltd And Vividend Income Fund Limited in Respect of the Letting Enterprise Known as SARS Durban
The Tribunal has unconditionally approved the merger wherein KZN Pension House (Pty) Ltd (“KZN Pension House”) intends to acquire the letting enterprise known as SARS Durban (“SARS Durban”) from Vividend Income Fund Limited (“Vividend Income Fund”).
KZN Pension House is a special purpose vehicle created for purposes of this transaction. The primary target firm is Vividend Income Fund in respect of the property letting enterprise known as SARS Durban, which comprises rentable Grade A office space.
Royale Energy (Pty) Ltd And Fuelex (Pty) Ltd
The Tribunal has approved this merger subject to an employment related condition. Royale Energy (Pty) Ltd (“Royale Energy”) intends to acquire FuelEx (Pty) Ltd (“FuelEx”).
The acquiring group is an energy company that operates in the wholesale, retail, marketing, storage and distribution of petroleum products within South Africa’s energy sector. The target group distributes petroleum products to retail and other wholesale customers and delivers fuel products countrywide.
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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