| Type of matter | Parties involved | Tribunal Decision |
|---|---|---|
| Large merger | Liquid Cartons (Pty) Ltd And The Liquid Cartons Business Carried on by Nampak Products Ltd | Approved with conditions |
| Large merger | Redefine Properties Ltd And Setso Property Fund (Pty) Ltd in respect of three rental enterprises and vacant land | Approved without conditions |
The Competition Tribunal (“Tribunal”) has conditionally approved the proposed merger whereby Liquid Cartons (Pty) Ltd (“LC”) intends to acquire, as a going concern, the Liquid Cartons Business carried on by Nampak Products Ltd (“target business”) from Nampak Products Ltd (“Nampak”). Post-merger, LC will control the target business.
The proposed merger has been approved subject to conditions seeking to remedy concerns relating to employment and competitively sensitive information.
LC is a newly established firm and currently does not conduct any business activities. Its controllers are active in the private equity space offering, among others, funding packages for medium to large leveraged buyouts and buy-ins and growth capital solutions.
The target business, an unincorporated division of Nampak, is the liquid cartons business conducted by Nampak. It is active in the manufacturing and supplying of paper based, liquid packaging.
Redefine Properties Ltd And Setso Property Fund (Pty) Ltd in respect of three rental enterprises and vacant landThe Tribunal has unconditionally approved the proposed merger whereby Redefine Properties Limited (“Redefine Properties”) intends to acquire control in various property letting enterprises conducted by Setso Property Fund (Pty) Ltd (“Setso Property Fund”).
Redefine Properties, a property loan stock company with the status of a Real Estate Investment Trust (“REIT”), is listed on the Johannesburg Stock Exchange. It has a property portfolio comprising a diverse range of properties including office, retail, residential and industrial space situated throughout South Africa.
The various property letting enterprises include an undivided share in the office rental enterprise known as “Monte Circle”; an undivided share in vacant land known as “Monte Place”; an undivided share in the office rental enterprise known as “The Oval – Wanderers”; and an undivided share in the office rental enterprise known as “The Pavilion – Wanderers”.
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
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