Ethos Private Equity Fund VI v RTT Holdings (Pty) Ltd (LM250Dec17) [2018] ZACT 7 (6 February 2018)

Ethos Private Equity Fund VI v RTT Holdings (Pty) Ltd (LM250Dec17) [2018] ZACT 7 (6 February 2018)

The Tribunal found that the proposed transaction, which changes Ethos Private Equity Fund VI's interest in RTT Holdings (Pty) Ltd from joint to sole control, does not result in any horizontal overlaps or alter the competitive landscape. The acquiring group has no interests in the relevant markets beyond its existing shareholding. The transaction is unlikely to substantially prevent or lessen competition in any market. Furthermore, no adverse public interest effects, including employment concerns, arise from the transaction. The Tribunal therefore approved the merger unconditionally.

Citation
[2018] ZACT 7
Parties
Applicant: Ethos Private Equity Fund VI; Respondent: RTT Holdings (Pty) Ltd
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
6 February 2018
Case Number
LM250Dec17
Procedural Posture
Merger Control / Approval
Outcome
The proposed transaction is approved unconditionally.
Judges
Norman Manoim, Andreas Wessels, Imraan Valodia
Legal Topics
Merger Control, Change of Control, Public Interest, Employment Effects
Competition Law Merger Control Change of Control Public Interest Employment Effects

Case Brief

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Parties

Ethos Private Equity Fund VI

Applicant

RTT Holdings (Pty) Ltd

Respondent

Procedural Posture

Merger Control / Approval

Legal Issues

  1. 1 Whether the proposed transaction will substantially prevent or lessen competition in any market.
  2. 2 Whether the transaction raises any public interest concerns, including employment effects.

Ratio Decidendi

The Tribunal found that the proposed transaction, which changes Ethos Private Equity Fund VI's interest in RTT Holdings (Pty) Ltd from joint to sole control, does not result in any horizontal overlaps or alter the competitive landscape. The acquiring group has no interests in the relevant markets beyond its existing shareholding. The transaction is unlikely to substantially prevent or lessen competition in any market. Furthermore, no adverse public interest effects, including employment concerns, arise from the transaction. The Tribunal therefore approved the merger unconditionally.

Court Disposition

The proposed transaction is approved unconditionally.

Orders

  • The merger between Ethos Private Equity Fund VI and RTT Holdings (Pty) Ltd is approved without conditions.