The Competition Tribunal (“Tribunal’) has unconditionally approved the proposed merger whereby a yet to be incorporated joint venture firm ("JV") intends to acquire shares in New H Powertrain Holdings S.L.U ("Horse").
 
The JV does not conduct any business activities. It will be established by the French firm, Renault S.A.S (“Renault”) and Zhejiang Geely Holding Group Co, Ltd (“Geely”), a Chinese firm. Renault operates an internal combustion engine (“ICE”) and hybrid powertrains business which includes engines and transmissions. Geely also operates an ICE and hybrid powertrains business which includes engines and transmissions worldwide.
 
Horse was incorporated for the purpose of the proposed merger. Renault and Geely will contribute their powertrain businesses to Horse. Both Renault and Geely will not contribute any assets located in South Africa to Horse, given that there are no assets or workers in South Africa relevant to the manufacture and supply of powertrain solutions.

 
The Tribunal has approved the proposed merger whereby Collins Property Group Ltd ("CPG") intends to acquire an interest in Collins Property Projects (Pty) Ltd ("Collins"), subject to an ownership commitment relating to historically disadvantaged persons (“HDPs”).
 
The CPG Group is an investment holding company with interests in privately owned businesses in numerous sectors including farming & agriculture, manufacturing, industrial, retail and telecommunications, among others. Of relevance to the proposed transaction are CPG Group’s activities in relation to property investments and ownership held through Collins.
 
Collins holds a property portfolio comprising retail, office and industrial properties primarily in Gauteng, KwaZulu-Natal and the Western Cape. It owns and manages a portfolio of properties on behalf of CPG Group.