McCarthy acquires Vereeniging Auto in large merger

The Tribunal has approved the merger whereby McCarthy (Pty) Ltd (McCarthy) has acquired The Motor Dealership t/a Vereeniging Auto (VAuto) as a going concern. The transaction includes fixed assets, contracts, stock and all other business assets.
 
McCarthy operates motor dealerships which sell new and used passenger vehicles, light commercial vehicles and trucks. VAuto is a motor dealership which sells new and used Ford passenger vehicles and light commercial vehicles. Both McCarthy and VAuto offer after sales services and facilitate vehicle finance and insurance services.

The Tribunal has requested supplementary reports from the Commission in this proposed transaction. This is an international transaction whereby 2667980 Ontario Inc. (Ontario) seeks to acquire AGT Foods and Ingredients Inc. (AGT).
 
The companies are active in the market for the supply of grain commodities and pulse seeds including beans, oil seeds, barley, corn sorghum and wheat in South Africa.
 
Ontario is a special purpose vehicle controlled by Fairfax Financial Holdings (FFH). FFH is listed on the Toronto Stock Exchange. It controls both Bryte Insurance Company Limited and Fairfax Africa Holdings Corporation (FAH). FAH holds an interest in AFGRI Group Holdings (Pty) Ltd, which provides services across the grain production and storage cycle and high-tech equipment through the John Deere brand.
 
AGT Foods and Ingredients Inc. is a public company listed on the Toronto Stock Exchange. It controls AGT Foods Africa (Pty) Ltd and AGT Foods (Pty) Ltd in South Africa. AGT Foods Africa (Pty) Ltd supplies seeds for planting and produces crops for planting and consumption purposes. It also supplies pre-packaged grains, pulses and microwave popcorn.