Merger Alert: Outcome of mergers decided by the Tribunal - 28 September 2023

Dis-Chem Distribution (Pty) Ltd And Capital PropFund (Pty) Ltd in Respect of The Immovable Property Known as ERF 137 Longmeadow Business Estate Extension 10

The Competition Tribunal (“Tribunal”) has unconditionally approved the proposed large merger wherein Dis-Chem Distribution (Pty) Ltd (“Dis-Chem Distribution”) intends to acquire an immovable property known as Erf 137 Longmeadow Business Estate Extension 10 (the “target property”) from Capital Propfund (Pty) Ltd (“Capital”).

Dis-Chem Distribution is wholly controlled and owned by Dis-Chem Pharmacies Limited (“Dis-Chem”), a public company listed on the Johannesburg Stock Exchange (“JSE”). Dis-Chem is a national chain of pharmacy stores located across South Africa. Dis-Chem’s activities in relation to the ownership of warehouses are of relevance to the proposed merger. The target property is located in Gauteng.

Kuehne and Nagel (Pty) Ltd And Morgan Cargo (Pty) Ltd, Morgan Cargo (KZN) (Pty) Ltd and Morgan Cargo Express (Pty) Ltd

The Tribunal has conditionally approved the large merger whereby Kuehne and Nagel (Pty) Ltd (“Kuehne and Nagel SA”) intends to acquire Morgan Cargo (Pty) Ltd, Morgan Cargo (KZN) (Pty) Ltd and Morgan Cargo Express (Pty) Ltd.

The Tribunal has approved the proposed transaction subject to conditions involving a moratorium on retrenchments of any employees in South Africa.

The acquiring group is a global logistics partner that offers highly specialised logistics solutions

for major industries worldwide. Its activities include air logistics, sea logistics, road logistics and warehousing and distribution.

The Morgan Cargo Group is a South African freight forwarding service provider. It provides these services in respect of both imported and exported goods via air and sea.

K2012150042 (South Africa) (Pty) Ltd And Old Mint (Pty) Ltd in respect of its ownership and direct control of the Target Property, Old Mint Industrial Park

The Tribunal has approved, without conditions, the proposed large merger wherein K2012150042 (South Africa) (Pty) Ltd (“K2012”) intends to acquire Old Mint (Pty) Ltd (“Old Mint”) in respect of its ownership and direct control of the target property, Old Mint Industrial Park (“target property”), as a going concern.

The acquiring group, through its subsidiaries, is involved in the financial and insurance markets internationally and in South Africa. Relevant to the proposed transaction are the industrial properties owned by the acquiring group.

Old Mint is a property-owning company that owns and operates the target property which comprises an industrial park located in Centurion, Gauteng.

Issued by:

Gillian de Gouveia, Communications Manager
On behalf of the Competition Tribunal of South Africa
Cell: +27 (0) 82 410 1195
E-Mail: GillianD@comptrib.co.za
Twitter: @comptrib