Corvest 13 (Pty) Ltd v Wrapsa Investment Holdings (Pty) Ltd (LM049Jun22) [2022] ZACT 25 (21 July 2022)

Corvest 13 (Pty) Ltd v Wrapsa Investment Holdings (Pty) Ltd (LM049Jun22) [2022] ZACT 25 (21 July 2022)

The Competition Tribunal approved the merger between Corvest 13 (Pty) Ltd and Wrapsa Investment Holdings (Pty) Ltd after considering the recommendation of the Competition Commission and reviewing all relevant information. The Tribunal found that the merger did not raise competition concerns and that no conditions were necessary for approval. The approval is granted in terms of section 16(2)(a) of the Competition Act, and a Merger Clearance Certificate is issued. The Tribunal retains the authority to revoke the approval under section 16(3) should any grounds for revocation arise.

Citation
[2022] ZACT 25
Parties
Applicant: Corvest 13 (Pty) Ltd; Respondent: Wrapsa Investment Holdings (Pty) Ltd
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
21 July 2022
Case Number
LM049Jun22
Procedural Posture
Merger Approval / Final Determination
Outcome
Merger approved without conditions.
Judges
L Mncube, Y Carrim, T Vilakazi
Legal Topics
Merger Control, Section 16 Competition Act, Merger Clearance Certificate
Competition Law Merger Control Section 16 Competition Act Merger Clearance Certificate

Case Brief

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Parties

Corvest 13 (Pty) Ltd

Applicant

Wrapsa Investment Holdings (Pty) Ltd

Respondent

Procedural Posture

Merger Approval / Final Determination

Legal Issues

  1. 1 Whether the proposed merger between Corvest 13 (Pty) Ltd and Wrapsa Investment Holdings (Pty) Ltd should be approved under section 16(2)(a) of the Competition Act.
  2. 2 Whether any conditions should be attached to the approval of the merger.

Ratio Decidendi

The Competition Tribunal approved the merger between Corvest 13 (Pty) Ltd and Wrapsa Investment Holdings (Pty) Ltd after considering the recommendation of the Competition Commission and reviewing all relevant information. The Tribunal found that the merger did not raise competition concerns and that no conditions were necessary for approval. The approval is granted in terms of section 16(2)(a) of the Competition Act, and a Merger Clearance Certificate is issued. The Tribunal retains the authority to revoke the approval under section 16(3) should any grounds for revocation arise.

Court Disposition

Merger approved without conditions.

Orders

  • The merger between Corvest 13 (Pty) Ltd and Wrapsa Investment Holdings (Pty) Ltd is approved in terms of section 16(2)(a) of the Competition Act.
  • A Merger Clearance Certificate is to be issued in terms of Competition Tribunal Rule 35(5)(a).