The Competition Tribunal (“Tribunal”) has unconditionally approved the proposed merger wherein Nedbank Group Ltd (“Nedbank”) intends to acquire Eqstra Investment Holdings (Pty) Ltd (“Eqstra”).
 
The acquiring group (all firms directly and indirectly controlled by Nedbank) provides financial services in the banking sector. Its fleet management services are relevant to the proposed transaction i.e. it offers tailored solutions in fleet management services including, among others: (i) selecting optimum vehicles for tasks; (ii) disposing of vehicles; (iii) managing cost control; and (v) monitoring maintenance.
 
Eqstra is an investment holding company which provides fleet management solutions. In particular, Eqstra provides: (i) fleet consulting services; (ii) fleet acquisition; (iii) fleet services; (iv) maintenance management; (v) fuel management; (vi) risk management; (vii) GPS tracking; and (viii) fleet re-marketing.
 

 
The Tribunal has approved the proposed merger whereby Rand Merchant Bank and Investments Advisory (Pty) Ltd (“RMBIA”) and Investec Bank Ltd (“Investec Bank”) intend to acquire control of Azrapart (Pty) Ltd (“Azrapart”) and its controlled entities.
 
The Tribunal has imposed conditions on the proposed merger that seek to remedy concerns relating to potential information exchange.
 
RMBIA is an investment company whose main business activity is the acquisition and holding of assets for investment purposes. Investec Bank is an international specialist bank and asset manager that provides a range of financial products and services. Azrapart’s sole business activity relates to the joint ownership and management of a retail property.

 
The Tribunal has approved, subject to conditions relating to worker ownership, the proposed merger between VCAP1 Alliances (Pty) Ltd (“VCAP1”) and Utilities World (Pty) Ltd, (“Utilities World”), Prepaid Utilities World CC (“Prepaid World”), Softline Software CC (“Softline Software”), Winciki Investments (Pty) Ltd (“Winciki”) and Intelli Meter (Pty) Ltd (“Intelli Meter”) (collectively, the target firms). Following the implementation of the proposed transaction, VCAP1 will control the target firms.
 
VCAP1 is a special purpose vehicle entity which controls Virtual Payment Solutions (Pty) Ltd (“VPS”) and Switchone (Pty) Ltd (“Switchone”). VPS operates as an intermediary between mobile network operators and retailers by offering virtual prepaid solutions. Switchone is a new entrant operating as a third-party payment processor. Its core offerings include transaction switching and point of sale payments services.
 
The target firms are all inter-related and co-dependent businesses operating in the prepaid and postpaid utilities industry, providing prepaid electricity token generation, vending and bill payment services to municipalities and private utilities.