Merger Alert: Outcome of mergers decided by the Tribunal - 28 November 2023
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 | Joint Venture Firm to be incorporated And New H Powertrain Holding S.L.U | Approved without conditions |
| Large merger | Collins Property Group Limited And Collins Property Projects (Pty) Ltd | Approved with conditions |
Joint Venture Firm to be incorporated And New H Powertrain Holding S.L.U
The Competition Tribunal (“Tribunal’) has unconditionally approved the proposed merger whereby a yet to be incorporated joint venture firm ("JV") intends to acquire shares in New H Powertrain Holdings S.L.U ("Horse").
The JV does not conduct any business activities. It will be established by the French firm, Renault S.A.S (“Renault”) and Zhejiang Geely Holding Group Co, Ltd (“Geely”), a Chinese firm. Renault operates an internal combustion engine (“ICE”) and hybrid powertrains business which includes engines and transmissions. Geely also operates an ICE and hybrid powertrains business which includes engines and transmissions worldwide.
Horse was incorporated for the purpose of the proposed merger. Renault and Geely will contribute their powertrain businesses to Horse. Both Renault and Geely will not contribute any assets located in South Africa to Horse, given that there are no assets or workers in South Africa relevant to the manufacture and supply of powertrain solutions.
Collins Property Group Ltd And Collins Property Projects (Pty) Ltd
The Tribunal has approved the proposed merger whereby Collins Property Group Ltd ("CPG") intends to acquire an interest in Collins Property Projects (Pty) Ltd ("Collins"), subject to an ownership commitment relating to historically disadvantaged persons (“HDPs”).
The CPG Group is an investment holding company with interests in privately owned businesses in numerous sectors including farming & agriculture, manufacturing, industrial, retail and telecommunications, among others. Of relevance to the proposed transaction are CPG Group’s activities in relation to property investments and ownership held through Collins.
Collins holds a property portfolio comprising retail, office and industrial properties primarily in Gauteng, KwaZulu-Natal and the Western Cape. It owns and manages a portfolio of properties on behalf of CPG Group.
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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