TRIBUNAL APPROVES MOTUS GROUP’S ACQUISITION OF TARGET DEALERSHIPS WITHOUT CONDITIONS
The Tribunal has unconditionally approved the large merger between Motus Group Limited (“Motus Group”) and North Motor Group (Pty) Ltd’s Kia Bryanston and Honda Sandton Motor Dealerships (“target dealerships”). This transaction involves Motus Group acquiring control of the target dealerships from North Motor Group (Pty) Ltd.
The Tribunal has concluded that the transaction does not substantially prevent or lessen competition in any relevant market.
Further, the merging parties made an unequivocal undertaking that there shall be no retrenchments as a result of the transaction and that the employees of the target dealerships will be transferred to Motus Group in line with the Labour Relations Act. The transaction does not raise any other public interest concerns.
Motus Group is controlled by the JSE listed company, Motus Holdings Limited. Motus Holdings and its subsidiaries are active in the import and distribution of motor vehicles; retail and rental of motor vehicles; motor-related financial services and the sale or original equipment manufacturer (OEM) spare parts and aftermarket parts.
The target dealerships are active in, among others, the sale of new and used Kia and Honda passenger vehicles and Kia light commercial vehicles as well as the supply of scheduled maintenance and after-sale services and parts.
Gillian de Gouveia, Communications Officer
On behalf of the Competition Tribunal of South Africa
Cell: +27 (0) 82 410 1195
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