Actis Impact Limited and Mco v Impact Holdings (Mauritius S.A.) Limited (LM052May17) [2017] ZACT 17 (11 July 2017)

Actis Impact Limited and Mco v Impact Holdings (Mauritius S.A.) Limited (LM052May17) [2017] ZACT 17 (11 July 2017)

The Tribunal found that the proposed transaction would not result in any substantial prevention or lessening of competition in any relevant market, as there was no horizontal overlap between the merging parties' activities in South Africa. The Actis Group had no prior investments or operations in the country, and the Improvon Group operated in the industrial and logistics property sector. Furthermore, the merging parties confirmed that there would be no negative impact on employment, with no retrenchments anticipated. No other public interest concerns were identified. Accordingly, the Tribunal approved the transaction unconditionally.

Citation
[2017] ZACT 17
Parties
Applicant: Actis Impact Limited; Applicant: MCo; Respondent: Impact Holdings (Mauritius S.A.) Limited
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
11 July 2017
Case Number
LM052May17
Procedural Posture
Merger Approval / Final Determination
Outcome
The proposed transaction is approved unconditionally.
Judges
AW Wessels, M Mazwai, I Valodia
Legal Topics
Merger Control, Joint Venture, Industrial Property Investment
Competition Law Commercial and Corporate Merger Control Joint Venture Industrial Property Investment

Case Brief

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Parties

Actis Impact Limited

Applicant

MCo

Applicant

Impact Holdings (Mauritius S.A.) Limited

Respondent

Procedural Posture

Merger Approval / Final Determination

Legal Issues

  1. 1 Whether the proposed transaction will substantially prevent or lessen competition in any relevant market.
  2. 2 Whether the proposed transaction raises any public interest concerns, including effects on employment.

Ratio Decidendi

The Tribunal found that the proposed transaction would not result in any substantial prevention or lessening of competition in any relevant market, as there was no horizontal overlap between the merging parties' activities in South Africa. The Actis Group had no prior investments or operations in the country, and the Improvon Group operated in the industrial and logistics property sector. Furthermore, the merging parties confirmed that there would be no negative impact on employment, with no retrenchments anticipated. No other public interest concerns were identified. Accordingly, the Tribunal approved the transaction unconditionally.

Court Disposition

The proposed transaction is approved unconditionally.

Orders

  • The merger between Actis Impact Limited, MCo, and Impact Holdings (Mauritius S.A.) Limited is approved without conditions.