Atterbury Investment Holdings Ltd v Abacus Property Holdings (Pty) Ltd (65/LM/Oct10) [2010] ZACT 78 (10 November 2010)

Atterbury Investment Holdings Ltd v Abacus Property Holdings (Pty) Ltd (65/LM/Oct10) [2010] ZACT 78 (10 November 2010)

The Tribunal found that the proposed merger would not result in any substantial prevention or lessening of competition in the relevant market for the holding and management of rentable retail properties. There was no geographic overlap between the properties to be transferred, and no market share accretion would occur. The transaction was also found not to raise any significant public interest concerns. Accordingly, the merger was approved without conditions.

Citation
[2010] ZACT 78
Parties
Applicant: Atterbury Investment Holdings Limited; Respondent: Abacus Property Holdings (Pty) Ltd
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
10 November 2010
Case Number
65/LM/Oct10
Procedural Posture
Merger Control / Merger Approval
Outcome
Merger approved without conditions.
Judges
Yasmin Carrim, Andreas Wessels, Medi Mokuena
Legal Topics
Merger Control, Joint Venture, Market Definition, Public Interest, Property Investment
Competition Law Commercial and Corporate Merger Control Joint Venture Market Definition Public Interest Property Investment

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Parties

Atterbury Investment Holdings Limited

Applicant

Abacus Property Holdings (Pty) Ltd

Respondent

Procedural Posture

Merger Control / Merger Approval

Legal Issues

  1. 1 Whether the proposed merger between Atterbury Investment Holdings Limited and Abacus Property Holdings (Pty) Ltd would substantially prevent or lessen competition in the relevant market.
  2. 2 Whether there are any significant public interest concerns arising from the transaction.

Ratio Decidendi

The Tribunal found that the proposed merger would not result in any substantial prevention or lessening of competition in the relevant market for the holding and management of rentable retail properties. There was no geographic overlap between the properties to be transferred, and no market share accretion would occur. The transaction was also found not to raise any significant public interest concerns. Accordingly, the merger was approved without conditions.

Court Disposition

Merger approved without conditions.

Orders

  • The merger between Atterbury Investment Holdings Limited and Abacus Property Holdings (Pty) Ltd is approved unconditionally.