Merger Alert: Strategic Fuel Fund Association NPC And Avedia Energy (Pty) Ltd (In Business Rescue)
Qaphela
Lesi Isaziso Sokuhlanganisa esilandelayo senzelwe izinjongo zolwazi kuphela futhi asibophezeli ku-Competition Tribunal nanoma yiliphi ilungu le-Tribunal.
Lead Text
The Tribunal has conditionally approved the large merger between Strategic Fuel Fund Association NPC (“SFF”) and Avedia Energy (Pty) Ltd (“Avedia”) (in Business Rescue).
Uhlobo lwendaba
Large merger
Amaqembu ahilelekile
Strategic Fuel Fund Association NPC And Avedia Energy (Pty) Ltd (In Business Rescue)
Isinqumo Senkantolo
Approved with conditions
Kukhishwe ngu
Gillian de Gouveia, Communications Manager
On behalf of the Competition Tribunal of South Africa
Umakhalekhukhwini:
27824101195
I-imeyili:
GillianD@comptrib.co.za
The Tribunal has conditionally approved the large merger between Strategic Fuel Fund Association NPC (“SFF”) and Avedia Energy (Pty) Ltd (“Avedia”) (in Business Rescue).
SFF is a wholly owned subsidiary of the Central Energy Fund (SOC) Ltd. SFF's primary function is to store and manage the country's strategic crude oil stockpile as well as privately held crude oil inventories. The acquiring group is a producer of liquified petroleum gas (“LPG”) through PetroSA.
Avedia (in business rescue) is an independent wholesaler of LPG. Its business activities comprise the sale of LPG in bulk to national wholesalers and smaller independent players in the Western Cape as well as the operation of LPG storage facilities in Saldanha Bay.
A full press release will be issued in due course.
