The Tribunal has unconditionally approved the proposed merger whereby Investec Asset Management SA Group Limited (IAM SA ListCo) and Investec Asset Management UK Group PLC (IAM UK ListCo) intends to acquire Investec Management Holdings (Pty) Ltd (IAM SA) and Investec Asset Management Limited (IAM UK).
 
IAM SA ListCo and IAM UK ListCo are incorporated in accordance with the company laws of South Africa and United Kingdom, respectively. They operate as one corporate group through a dual listed company (DLC) arrangement. The firms are collectively referred to as IAM DLC.

Post-merger, it is intended that no shareholder will control IAM DLC. The acquiring firms were established for the proposed transaction. Consequently, IAM DLC does not have prior operations or business activities.
 
IAM SA is controlled by Investec Limited and IAM UK by Investec plc. Investec Limited and Investec Plc operate as one corporate group through a DLC arrangement and neither of the firms are controlled by any firm.

IAM SA holds asset management operations in South Africa, Namibia and Botswana. IAM UK holds international asset management operation in the UK. IAM is a specialist provider of active investment products and services to institutional and advisor clients such as central banks, sovereign wealth funds, insurers, foundations, financial advisors, pension funds and intermediaries serving individual investors. Their investment offering includes equities, fixed income, multi asset management and alternatives strategies.
 
In its assessment of the transaction, the Commission was of the view that the transaction is unlikely to prevent or lessen competition in any market.