Outcome of cases heard by the Tribunal: Wednesday, 10 April 2019
| Type of matter | Parties involved | Commission’s recommendation to the Tribunal | Tribunal Decision |
| Large merger | Mercuria Energy Group Ltd And Aegean Marine Petroleum Network Inc | Approve without conditions | Approved without conditions |
| Large merger | Balwin Rentals (Pty) Ltd And Residential Units in The Greenpark Development; The Greenlee Development; and The Greencreek Development | Approve without conditions | Approved without conditions |
Tribunal approves large merger in market for bunker fuel supply and trading
The Tribunal has approved the transaction whereby Mercuria Energy Group Limited (“Mercuria”) seeks to acquire Aegean Marine Petroleum Network Inc (“Aegean”).
Mercuria is incorporated in accordance with the laws of Cyprus. In South Africa, the company is active through Minerva Bunkers in the trading or brokering of bunker fuel. Minerva Bunkers is not a physical supplier of fuel locally.
Aegean is registered in the Republic of the Marshall Islands. It physically supplies bunker fuel and provides logistics services. The company uses the services of bunkering tankers and floating storage owned by non-South African Aegean affiliates to deliver bunker fuel in South Africa to end-user customers.
In its analysis of the proposed transaction, the Commission earlier found that the merger is unlikely to substantially prevent or lessen competition in any market. In addition, it found that the merger is unlikely to result in any job losses or retrenchments.
Tribunal approves large merger in Gauteng residential property development market
The Tribunal has approved this property merger whereby Balwin Rentals (Pty) Ltd (“Balwin Rentals”) seeks to acquire yet to be developed residential properties in Gauteng (residential units in the Greenpark, Greenlee and Greencreek Developments).
Balwin Rentals is jointly controlled by Balwin Properties Ltd and Yieldex (Pty) Ltd. It exclusively purchases newly developed residential property from Balwin Properties with the intention of leasing these to individual tenants.
Balwin Properties is a residential property developer which builds residential properties for sale directly to investors, while Yieldex is a newly established entity which currently does not conduct any business activities.
Issued by:
Gillian de Gouveia
Communications Officer
Tel: +27 (0) 12 394 1383
Cell: +27 (0) 82 410 1195
Email: GillianD@comptrib.co.za
Twitter: @comptrib
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