ApexHi Properties Ltd v Ambit Properties Ltd (33/LM/Mar09) [2009] ZACT 62 (8 October 2009)

ApexHi Properties Ltd v Ambit Properties Ltd (33/LM/Mar09) [2009] ZACT 62 (8 October 2009)

The Tribunal found that in all relevant product and geographic markets, the combined post-merger market shares of ApexHi and Ambit would not exceed 6%. This level of concentration is insufficient to raise competition concerns. The parties would continue to face competition from other market participants such as Growthpoint and Old Mutual. The Tribunal also found no public interest issues arising from the transaction. Accordingly, the merger was approved unconditionally as it does not lead to a substantial prevention or lessening of competition, nor does it raise any public interest concerns.

Citation
[2009] ZACT 62
Parties
Applicant: ApexHi Properties Limited; Respondent: Ambit Properties Limited
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
8 October 2009
Case Number
33/LM/Mar09
Procedural Posture
Merger Control / Merger Approval
Outcome
Merger approved unconditionally.
Judges
D Lewis, N Manoim, Y Carrim
Legal Topics
Merger Control, Market Share Analysis, Public Interest, Scheme of Arrangement
Competition Law Commercial and Corporate Merger Control Market Share Analysis Public Interest Scheme of Arrangement

Case Brief

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Parties

ApexHi Properties Limited

Applicant

Ambit Properties Limited

Respondent

Procedural Posture

Merger Control / Merger Approval

Legal Issues

  1. 1 Whether the proposed merger between ApexHi Properties Limited and Ambit Properties Limited is likely to substantially prevent or lessen competition in any relevant market.
  2. 2 Whether there are any public interest concerns arising from the transaction.

Ratio Decidendi

The Tribunal found that in all relevant product and geographic markets, the combined post-merger market shares of ApexHi and Ambit would not exceed 6%. This level of concentration is insufficient to raise competition concerns. The parties would continue to face competition from other market participants such as Growthpoint and Old Mutual. The Tribunal also found no public interest issues arising from the transaction. Accordingly, the merger was approved unconditionally as it does not lead to a substantial prevention or lessening of competition, nor does it raise any public interest concerns.

Court Disposition

Merger approved unconditionally.

Orders

  • The merger between ApexHi Properties Limited and Ambit Properties Limited is approved unconditionally.