Dipula Income Fund Limited v Unlocked Properties 18 Proprietary Limited (LM159Feb20) [2020] ZACT 90 (25 March 2020)
- Citation
- [2020] ZACT 90
- Status
- Order
- Jurisdiction
- South Africa
- Court
- Competition Tribunal
- Panel
- M Mazwai, Y Carrim, I Valodia
- Case number
- LM159Feb20
More details
- Court
- Competition Tribunal
- Panel
- M Mazwai, Y Carrim, I Valodia
- Case number
- LM159Feb20
On this page
Professional case brief
Research organized from the available case record
01
Holding and result
The Tribunal found that the proposed merger between Dipula Income Fund Limited and Unlocked Properties 18 Proprietary Limited does not raise any competition concerns and complies with the requirements of the Competition Act. The recommendation of the Competition Commission was accepted, and the merger was approved in terms of section 16(2)(a) of the Act. The Tribunal further ordered that a Merger Clearance Certificate be issued in accordance with Rule 35(5)(a) of the Competition Tribunal Rules.
Court disposition
Merger approved without conditions.
Orders
- The merger between Dipula Income Fund Limited and Unlocked Properties 18 Proprietary Limited 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).
02
Material facts
Parties
Dipula Income Fund Limited
ApplicantUnlocked Properties 18 Proprietary Limited
Respondent03
Procedural history
Posture
Merger Application / Final Determination
04
Questions and positions
Legal issues
- 01
Whether the proposed merger between Dipula Income Fund Limited and Unlocked Properties 18 Proprietary Limited should be approved under the Competition Act.
- 02
Whether the merger raises any competition concerns under section 16(2)(a) of the Competition Act.
Party arguments
- Applicant
- The applicant submitted that the merger does not substantially prevent or lessen competition in any relevant market and that it complies with the requirements of the Competition Act for approval.
- Respondent
- The respondent did not oppose the merger and concurred with the applicant's submissions regarding the absence of competition concerns.
05
Court’s reasoning
Legal principles
- 01
Competition Act, 1998, section 16(2)(a)
A merger may be approved if it does not substantially prevent or lessen competition, or if any such effect can be justified on public interest grounds.
- 02
Competition Act, 1998, section 14A(1)(b)
The Tribunal must consider the recommendation of the Competition Commission when determining whether to approve a merger.
06
Ratio, limits and disposition
Ratio decidendi
The Tribunal found that the proposed merger between Dipula Income Fund Limited and Unlocked Properties 18 Proprietary Limited does not raise any competition concerns and complies with the requirements of the Competition Act. The recommendation of the Competition Commission was accepted, and the merger was approved in terms of section 16(2)(a) of the Act. The Tribunal further ordered that a Merger Clearance Certificate be issued in accordance with Rule 35(5)(a) of the Competition Tribunal Rules.
Court disposition
Merger approved without conditions.
- The merger between Dipula Income Fund Limited and Unlocked Properties 18 Proprietary Limited 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).
Source and reliance status
Competition Tribunal
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Judgment reading view
Judgment text
The complete available source text.
Competition Tribunal
Order
COMPETITION
TRIBUNAL OF SOUTH AFRICA
Case No.: LM159Feb20
In the matter between:
Dipula Income Fund Limited Primary Acquiring Firm
And
Unlocked Properties 18 Proprietary Limited Primary Target Firm
Panel M Mazwai (Presiding Member), Y Carrim (Tribunal Panel Member), I Valodia (Tribunal Panel Member
Heard on 25 March 2020
Decided on 25 March 2020
ORDER
Further to the recommendation of the Competition Commission in terms of section 14A(1)(b) of the Competition Act, 1998 ("the Act") the Competition Tribunal orders that-
1. the merger between the abovementioned parties be approved in terms of section 16(2)(a) of the Act; and
2. a Merger Clearance Certificate be issued in terms of Competition Tribunal Rule 35(5)(a).
Presiding Member
Ms Mondo Mazwai
Concurring: Ms Yasmin Carrim and Prof. lmraan Valodia
DATE: 25 March 2020
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