Emerging African Property Partners (Pty) Ltd v Lisaline Investment Holdings (Pty) Ltd (LM124Oct19) [2020] ZACT 4; [2020] 1 CPLR 348 (CT) (10 January 2020)

Emerging African Property Partners (Pty) Ltd v Lisaline Investment Holdings (Pty) Ltd (LM124Oct19) [2020] ZACT 4; [2020] 1 CPLR 348 (CT) (10 January 2020)

The Tribunal found that although both merging parties are active in the provision of rentable light industrial property, there is no significant geographic overlap between their properties. The target property is situated in Boksburg, while the acquiring group's relevant properties are approximately 53km away. The Tribunal agreed with the Commission's assessment that the transaction is unlikely to result in a substantial prevention or lessening of competition. Furthermore, the Tribunal noted a pro-public interest benefit, as the transaction involves a partnership with a black-owned women-empowerment property company and the Government Employee Pension Fund. No public interest concerns...

Citation
[2020] ZACT 4
Parties
Applicant: Emerging African Property Partners (Pty) Ltd; Respondent: Lisaline Investment Holdings (Pty) Ltd
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
10 January 2020
Case Number
LM124Oct19
Procedural Posture
Merger Approval / Final Determination
Outcome
The proposed transaction is approved unconditionally.
Judges
E Daniels, Y Carrim, A Ndoni
Legal Topics
Merger Control, Substantial Prevention or Lessening of Competition, Public Interest Benefit
Competition Law Commercial and Corporate Merger Control Substantial Prevention or Lessening of Competition Public Interest Benefit

Case Brief

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Parties

Emerging African Property Partners (Pty) Ltd

Applicant

Lisaline Investment Holdings (Pty) Ltd

Respondent

Procedural Posture

Merger Approval / Final Determination

Legal Issues

  1. 1 Whether the proposed merger will substantially prevent or lessen competition in any relevant market.
  2. 2 Whether any public interest concerns arise from the proposed transaction.

Ratio Decidendi

The Tribunal found that although both merging parties are active in the provision of rentable light industrial property, there is no significant geographic overlap between their properties. The target property is situated in Boksburg, while the acquiring group's relevant properties are approximately 53km away. The Tribunal agreed with the Commission's assessment that the transaction is unlikely to result in a substantial prevention or lessening of competition. Furthermore, the Tribunal noted a pro-public interest benefit, as the transaction involves a partnership with a black-owned women-empowerment property company and the Government Employee Pension Fund. No public interest concerns...

Court Disposition

The proposed transaction is approved unconditionally.

Orders

  • The merger between Emerging African Property Partners (Pty) Ltd and Lisaline Investment Holdings (Pty) Ltd is approved without conditions.