Merger Alert: Strategic Fuel Fund Association NPC And bp Southern Africa (Pty) Ltd in respect of the disposal of interest in the assets of bpSA’s Cape Town Terminal
Notice
The following Merger Alert is for information purposes only and is not binding on the Competition Tribunal or any member of the Tribunal
Lead Text
The Tribunal has unconditionally approved the large merger whereby the Strategic Fuel Fund Association NPC (“SFF”) intends to acquire interest in the assets of bp Southern Africa Ltd’s (“bpSA”) Cape Town Terminal (“Cape Town Terminal”). Upon the implementation of the proposed transaction, SFF and bpSA will have joint control of the Cape Town Terminal.
Type of matter
Large merger
Parties involved
Strategic Fuel Fund Association NPC And bp Southern Africa (Pty) Ltd in respect of the disposal of interest in the assets of bpSA’s Cape Town Terminal
Tribunal Decision
Approved without conditions
Issued By
Gillian de Gouveia, Communications Manager
On behalf of the Competition Tribunal of South Africa
The Tribunal has unconditionally approved the large merger whereby the Strategic Fuel Fund Association NPC (“SFF”) intends to acquire interest in the assets of bp Southern Africa Ltd’s (“bpSA”) Cape Town Terminal (“Cape Town Terminal”). Upon the implementation of the proposed transaction, SFF and bpSA will have joint control of the Cape Town Terminal.
The SFF’s main activity is the storage and management of South Africa’s strategic crude oil stockpile as well as privately-owned stocks of crude oil. Accordingly, the SFF operates various facilities for the storage of crude oil.
bpSA produces a range of petroleum products including diesel, petrol, illuminating paraffin, LPG, bitumen, fuel oil and jet fuel which are ultimately sold to retail and commercial and industrial customers in South Africa. The Cape Town Terminal is used for off-loading petrol, diesel, jet fuel and paraffin (kerosene) from vessels and via cross pumps.
