Outcome: Tribunal order issued in CTP Limited and Private Property merger case
The Competition Tribunal has set aside conditions imposed by the Commission, in a merger case involving CTP Limited (CTP) and Private Property South Africa (Pty) Ltd.
The conditions imposed by the Commission were in relation to cross-directorship.
CTP, Private Property and two other companies which have an interest in Private Property (Betterlife Group Limited and Ooba (Pty) Ltd) filed an application to vary the conditions imposed by the Commission in the merger.
The companies had argued, among others, that there was no consensus reached between them and the Commission on the conditions and that there was good cause to vary the conditions.
The Commission, in its turn, contended that the companies had failed to show good cause to vary the conditions.
The order to set aside the conditions (in terms of clause 5.2 of the merger approval) was issued earlier today, Friday 25 January 2019. The reasons will be issued in due course.