| Type of matter | Parties involved | Tribunal Decision |
|---|---|---|
| Large merger | Old Mutual Life Assurance Company (South Africa) Ltd and Guardrisk Life Ltd, rights and obligations pertaining to Life Insurance Annuity Policy Number 400001 issued for the benefit of certain eligible employees of Murray and Roberts Ltd | Approved without conditions |
The Tribunal has unconditionally approved the proposed merger wherein Old Mutual Life Assurance Company (South Africa) Limited (“OMLACSA”) intends to acquire the rights and obligations held by Guardrisk Life Limited (“Guardrisk”), pertaining to a life insurance annuity policy (with policy number 400001) issued by Guardrisk for the benefit of certain eligible employees of the policyholder, Murray and Roberts Holdings Limited (“Murray and Roberts”) (“transfer policy”). Post-merger, OMLACSA will have sole control of the transfer policy.
OMLACSA is a licensed life insurer authorised to provide various insurance products.
The transfer policy is a group plan asset, post-retirement medical aid policy issued by Guardrisk. The entity entitled to the policy benefits is the policyholder, Murray and Roberts.
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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