General Atlantic Partners, LP v Actis Holdings S.A.L.R (Luxembourg) (LM002Apr24) [2024] ZACT 29 (4 July 2024)
- Citation
- [2024] ZACT 29
- Status
- Order
- Jurisdiction
- South Africa
- Court
- Competition Tribunal
- Panel
- M Mazwai, A Kessery, T Vilakazi
- Case number
- LM002Apr24
More details
- Court
- Competition Tribunal
- Panel
- M Mazwai, A Kessery, T Vilakazi
- Case number
- LM002Apr24
On this page
Professional case brief
Research organized from the available case record
01
Holding and result
The Tribunal found that the proposed merger does not raise competition concerns and will not have a negative impact on public interest. The Competition Commission recommended approval, and no objections were raised. Accordingly, the merger is approved under section 16(2)(a) of the Competition Act, and a Merger Clearance Certificate is to be issued.
Court disposition
Merger approved; Merger Clearance Certificate to be issued.
Orders
- The merger between General Atlantic Partners, LP and Actis Holdings S.A.L.R (Luxembourg) 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
General Atlantic Partners, LP
ApplicantActis Holdings S.A.L.R (Luxembourg)
Respondent03
Procedural history
Posture
Merger Control / Final Determination
04
Questions and positions
Legal issues
- 01
Whether the proposed merger between General Atlantic Partners, LP and Actis Holdings S.A.L.R (Luxembourg) should be approved under section 16(2)(a) of the Competition Act.
- 02
Whether a Merger Clearance Certificate should be issued in terms of Competition Tribunal Rule 35(5)(a).
Party arguments
- Applicant
- The applicant submitted that the merger meets all requirements under the Competition Act and does not substantially prevent or lessen competition in any relevant market. The transaction is not expected to result in negative public interest effects.
- Respondent
- The respondent did not oppose the merger and confirmed that the transaction complies with the Competition Act. No adverse effects on competition or public interest were identified.
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 Tribunal Rule 35(5)(a)
The Tribunal must issue a Merger Clearance Certificate upon approval of a merger.
06
Ratio, limits and disposition
Ratio decidendi
The Tribunal found that the proposed merger does not raise competition concerns and will not have a negative impact on public interest. The Competition Commission recommended approval, and no objections were raised. Accordingly, the merger is approved under section 16(2)(a) of the Competition Act, and a Merger Clearance Certificate is to be issued.
Obiter and limits
- The Tribunal notes the efficiency of the merger review process and the cooperation of the parties in providing all necessary information.
Court disposition
Merger approved; Merger Clearance Certificate to be issued.
- The merger between General Atlantic Partners, LP and Actis Holdings S.A.L.R (Luxembourg) 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 REPUBLIC OF SOUTH AFRICA
Case No.: LM002Apr24
In the matter between: General Atlantic Partners, LP Primary Acquiring Firm And Actis Holdings S.A.L.R (Luxembourg) Primary Target Firm
Panel: M Mazwai (Presiding Member) A Kessery (Tribunal Member) T Vilakazi (Tribunal Member) Heard on: 02 July 2024 Decided on: 04 July 2024
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
04 July 2024
Ms Mondo Mazwai
Date
Concurring: Adv Anisa Kessery and Prof Thando Vilakazi
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