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OUTCOME OF CASES HEARD BY THE TRIBUNAL ON 13 DECEMBER 2018
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| Type of matter |
Parties involved |
Competition Commissions Recommendation to Tribunal |
Tribunal Decision |
| Large merger |
K2018239983 (Pty) Ltd and Hernic Ferrochrome (Pty) Ltd, in business rescue |
Approve the merger with conditions |
Decision in due course |
| Large merger |
Government Employee Pension Fund and Farm Palmletfontein |
Approve the merger without conditions |
Approved without conditions |
| Large merger |
A newly formed Mauritian Limited Liability partnership (MAU LLP) and The Investment of PAIDF 2LC and the Pan African Infrastructure Development Fund 2SA |
Approve the merger with conditions |
Approved with conditions |
| Large merger |
Bidvest Freight (Pty) Ltd and Sebenza Forwarding and Shipping (Pty) Ltd |
Approve the merger without conditions |
Approved without conditions |
| Large merger |
TC Group LLC and Apollo Aviation Holding Limited |
Approve the merger without conditions |
Approved without conditions |
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Samancor Chrome looks to acquire Hernic Ferrochrome
On Thursday the Competition Tribunal heard the proposed acquisition by K2018239983 (Pty) Ltd of Hernic Ferrochrome (Pty) Ltd which is currently in business rescue. The Tribunal will issue its decision in this matter in due course.
K2018239983 is a newly established firm and is a subsidiary of Samancor Chrome Ltd. Once the transaction is implemented Samancor Chrome will control Hernic Ferrochrome. Both Samancor and Hernic Ferrochrome are producers of ferrochrome.
The Competition Commission, which assesses large mergers before referring them to the Tribunal for decision, evaluated the merger and recommended that the merger be approved on condition that (1) the Tribunal impose a moratorium on retrenchments for 12 months; and (2) the new merged firm agrees to comply with the social labour plans, or SLP’s, that Hernic Ferrochrome was obliged to comply with prior to the merger.
Bidvest seeks controlling stake in Sebenza freight company
On Thursday the Competition Tribunal heard Bidvest Freight (Pty) Ltd’s bid to acquire a controlling stake in Sebenza Forwarding and Shipping (Pty) Ltd, which it already has a non-controlling share in. Both firms are involved in the freight forwarding and clearing business.
The Competition Commission, which assesses large mergers before referring them to the Tribunal for decision, evaluated the merger and recommended that the Competition Tribunal should approve the merger without conditions as it did not raise any significant competition concerns.
The Tribunal approved this merger without conditions.
GEPF to acquire vacant land in the North West
In this transaction the Government Employee Pension Fund (GEPF) intends to acquire vacant land currently owned by Isago @N12 Development (Pty) Ltd in the North West Province. The vacant land will be developed into a mixed-use precinct comprising offices, industrial, housing and healthcare facilities.
The Competition Commission, which assesses large mergers before referring them to the Tribunal for decision, evaluated the merger and recommended that the Competition Tribunal should approve the merger without conditions as it did not raise any significant competition concerns.
The Tribunal heard merger on Thursday and approved it without conditions.
Restructure of Mauritius based investment firm comes before Competition Tribunal
In this transaction MAU LLP, a new Mauritius based investment firm, intends to purchase two investment funds – PAIDF 1 and PAIDF 2 – that hold numerous interests in infrastructure and power. The transaction is one step in a restructure aimed at creating a permanent capital vehicle (PCV) in the form of MAU LLP.
The Competition Commission assessed the transaction and concluded that the merger could give rise to information exchange amongst some shareholders within the corporate structure. The Commission therefore recommended that the Competition Tribunal approve the transaction with conditions aimed at minimising the possibility of information exchange between the parties.
The Tribunal heard this merger on Thursday and approved the merger with conditions.
Aircraft leasing merger comes before the Tribunal
On Thursday the Competition Tribunal heard a merger between TC Group LLC and Apollo Aviation Holding Limited. The Tribunal approved the merger without conditions.
Once the transaction is completed TC Group will have complete control over Apollo Aviation.
TC Group is wholly controlled by the Carlyle Group - an American based firm which invests in a wide range of industries. Apollo Aviation controls a number of businesses which focus on acquiring, leasing, managing and selling large commercial Boeing and Airbus aircraft.
The Competition Commission, which assesses large mergers before referring them to the Tribunal for decision, evaluated the merger and recommended that the Competition Tribunal should approve the merger without conditions as it did not raise any significant competition concerns.
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Nandi Mokoena
Acting Communications Officer
Tel: (0) 12 394 1383
Cell: +27 (0) 82 399 1328
Twitter: @comptrib
E-Mail: NandisileM@live.co.za |
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