Merger Alert: Outcome of mergers decided by the Tribunal - 6 February 2024
The following Merger Alert is for information purposes only and is not binding on the Competition Tribunal or any member of the Tribunal
| Type of matter | Parties involved | Tribunal Decision |
| Large merger | Beko Europe BV and Whirlpool Corporation’s Europe, Middle East and North Africa major domestic appliances businesses and Whirlpool Maroc S.A.R.L (Morocco) and Whirlpool MEEA (UAE) | Approved with conditions |
| Large merger | AIIH Ltd and Joseph Investment Holdings | Approved without conditions |
Beko Europe BV and Whirlpool Corporation’s Europe, Middle East and North Africa major domestic appliances businesses and Whirlpool Maroc S.A.R.L (Morocco) and Whirlpool MEEA (UAE)
The Competition Tribunal (“Tribunal”) has conditionally approved the merger whereby Beko Europe BV intends to acquire Whirlpool Corporation’s Europe, Middle East and North Africa major domestic appliances (“MDA”) business and Whirlpool Maroc S.A.R.L (Morocco) and Whirlpool MEEA (UAE).
The acquiring group is a global supplier of home appliances and consumer electronics through Beko. In South Africa, it manufactures and supplies MDAs such as cooking appliances, dishwashers, freezers, microwaves, refrigerators, tumble dryers and washing machines under the Defy, Beko and Grundig brands. It also manufactures non-branded MDAs and supplies these to private label suppliers and other MDA manufacturers in South Africa. The target businesses supply Whirlpool-branded MDAs in South Africa.
A more detailed press release will be issued once any confidential information in the conditions has been finalised.
AIIH Ltd and Joseph Investment Holdings
The Tribunal has unconditionally approved the merger wherein AIIH Limited (“AIIH”) intends to acquire shareholding in Joseph Investment Holdings (“JIH”).
AIIH is a special purpose vehicle incorporated in Mauritius. In South Africa, the acquiring group is involved in the supply of pork and processed meat products. It is also involved in: plastic recycling and the manufacture of rigid plastic containers; the manufacture of prefabricated accommodation, offices, ablutions, clinics, classrooms kitchens and diners; operating speciality coffee stores; and producing extra virgin olive oil and vegetable juice.
The target group (JIH and all the firms controlled by it) is an investment holding company with interest in various agricultural services and food related companies. The target group has an interest in firms that are active in the provision of agricultural services, more specifically grain production and storage.
Issued by:
Gillian de Gouveia, Communications Manager
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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