Merger Alert: Takatso Aviation (Pty) Ltd And South African Airways State Owned Company Limited
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 Competition Tribunal (“Tribunal’) has conditionally approved the proposed merger in terms of which Takatso Aviation (Pty) Ltd (“Takatso”) intends to acquire 51% of the issued share capital of South African Airways State Owned Company Limited (“SAA”) from the South African Government as represented by the National Department of Public Enterprises (“DPE”).
Type of matter
Large merger
Parties involved
Takatso Aviation (Pty) Ltd And South African Airways State Owned Company Limited
Tribunal Decision
Approved with conditions
Issued By
Gillian de Gouveia, Communications Manager
On behalf of the Competition Tribunal of South Africa
The Competition Tribunal (“Tribunal’) has conditionally approved the proposed merger in terms of which Takatso Aviation (Pty) Ltd (“Takatso”) intends to acquire 51% of the issued share capital of South African Airways State Owned Company Limited (“SAA”) from the South African Government as represented by the National Department of Public Enterprises (“DPE”).
The Tribunal has approved the transaction subject to conditions involving a moratorium on retrenchments and divestiture of the shareholding by the minority shareholders in the Takatso consortium.
The Tribunal’s reasons will be issued in due course.
