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Holistics Remedies Proprietary Limited and Avroy Shlain Cosmetics Proprietary Limited
The Competition Tribunal (“Tribunal”) has unconditionally approved the proposed merger in which Holistics Remedies (Pty) Ltd (“Holistics”) will acquire shareholding in Avroy Shlain Cosmetics (Pty) Ltd (“Avroy Shlain”). Following the transaction, Holistics will have sole control over Avroy Shlain.
Holistics and its subsidiaries operate in the manufacture and distribution of personal and home care products. Its portfolio includes male and female fragrances, bath and skin care products, deodorants, colour cosmetics, natural hair care products and face care products. Brands include Playboy, Playgirl, Mousson, Clere, English Leather, Bronx, Easy Waves and Cuticura.
Avroy Shlain develops, markets and supplies personal care and beauty products under its primary brand, Avroy Shlain. Its products (fragrances, bath and skin care products, deodorants, colour cosmetics, natural hair care and face care products) are sold directly to consumers across South Africa through independent beauty advisors. Avroy Shlain product lines include Black Diamond, Exotic Fire, Lovelt, Body Essence, Perfect, Colour Fun, Afri Moisture and Avroy Pure Skin.
Cashbuild Management Services (Pty) Ltd and AllBuildco Holdings (Pty) Ltd
The Tribunal has unconditionally approved the merger in which Cashbuild Management Services (“CMS”) will acquire shareholding in AllBuildco (Pty) Ltd (“AllBuildco”). Once the merger is implemented, CMS - and by extension its parent company, Cashbuild Ltd (‘Cashbuild”) - will solely control AllBuildco through a majority interest.
CMS is a wholly owned subsidiary of Cashbuild, which is listed on the Johannesburg Stock Exchange. The Cashbuild Group is a Southern African-based retailer of building materials, hardware and related products.
AllBuildco is a newly established special purpose holding company created for this transaction. It controls AllBuildco Trading (Pty) Ltd (“AllBuildco Trading”) which will, following internal transaction steps, control three Amper Alles City Hardware stores which operate under the MICA brand through franchise agreements with Mica Investment (Pty) Ltd.
African Bank Ltd and Eskom Home Loan Book, a business asset book of Eskom Finance Company SOC Ltd
The Tribunal has, subject to employment-related conditions, approved the proposed merger in which African Bank Ltd (“African Bank”) will acquire the entire home loan book of Eskom Finance Company SOC Limited (“EFC”).
African Bank is wholly owned and controlled by African Bank Holdings Ltd which is, in turn, controlled by the South African Reserve Bank. The banking activities of the acquiring group (African Bank, the firms that control it and the firms it controls) are conducted by African Bank. Of relevance to the merger is African Bank’s retail banking activities.
The target firm is the EFC home loan book, being the amounts owed by Eskom employees to EFC in terms of the agreements entered into between EFC and the respective Eskom employees.
Futuregrowth Asset Management (Pty) Ltd acting in its capacity as agent of Old Mutual Life Assurance Company (South Africa) Ltd and K2024586840 (South Africa) (Pty) Ltd
The Tribunal has unconditionally approved the merger in which Futuregrowth Asset Management (Pty) Ltd (“Futuregrowth”), acting as agent of Old Mutual Life Assurance Company (South Africa) Ltd (“OMLACSA”), will acquire additional shareholding in K2024586840 (South Africa) (Pty) Ltd (“WCB NewCo”). Following the transaction, OMLACSA will exercise joint control over WCB NewCo.
Futuregrowth, in its capacity as agent of OMLACSA, is ultimately controlled by Old Mutual Ltd. The acquiring group (Futuregrowth, its subsidiaries, controlling firms and their controlled entities) is an international long-term savings, insurance, banking and investment group. It provides financial products and services. Its residential and student accommodation activities in the Western Cape are relevant to the merger.
The target group (WCB NewCo and its subsidiaries) is a residential property development group that offers property development services.
Toyota Fudosan Co. Ltd, Toyota Motor Corporation and Toyota Industries Corporation
The Tribunal has unconditionally approved the international transaction in which Toyota Fudosan Co. Ltd (“TF”) intends to acquire sole control of Toyota Industries Corporation (“TIC”) and Toyota Motor Corporation (“TMC”) intends to acquire non-voting preference shares in TIC.
Both TF and TMC are Japanese firms. While TF does not have any activities in South Africa, TMC controls several firms in South Africa, with its core business activities involving the production and sale of Toyota motor vehicles.
TIC is also a Japanese firm. Locally, its area of activity is in materials handling equipment (specifically, the supply of forklift trucks and spare parts for forklift trucks). It has limited activities in textile machinery and logistic services and is not active in automobiles and automobile parts locally.
Issued by: Gillian de Gouveia, Communications Manager On behalf of the Competition Tribunal of South Africa Tel: +27 (0) 12 394 1383 Cell: +27 (0) 82 410 1195 E-Mail: GillianD@comptrib.co.za X (Twitter): @comptrib LinkedIn: Competition Tribunal of South Africa
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