Government Employees Pension Fund v Siyanda Resources (Pty) Ltd (LM15Aug15) [2015] ZACT 82 (4 November 2015)

Government Employees Pension Fund v Siyanda Resources (Pty) Ltd (LM15Aug15) [2015] ZACT 82 (4 November 2015)

The Tribunal found that there are no overlaps between the activities of the merging parties, as Siyanda Resources is an investment holding company with interests in mining, while the Public Investment Corporation does not control firms active in those markets. The Competition Commission concluded that the transaction is unlikely to substantially lessen or prevent competition. Furthermore, no public interest concerns were identified. The Tribunal agreed with the Commission's analysis and approved the merger unconditionally.

Citation
[2015] ZACT 82
Parties
Applicant: Government Employees Pension Fund; Respondent: Siyanda Resources (Pty) Ltd
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
4 November 2015
Case Number
LM115Aug15
Procedural Posture
Merger Control / Approval
Outcome
Merger unconditionally approved.
Judges
Medi Mokuena, Anton Roskam, Andiswa Ndoni
Legal Topics
Merger Control, Joint Control, Public Interest, Market Overlap
Competition Law Commercial and Corporate Merger Control Joint Control Public Interest Market Overlap

Case Brief

Summary, issues, holding and outcome

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Parties

Government Employees Pension Fund

Applicant

Siyanda Resources (Pty) Ltd

Respondent

Procedural Posture

Merger Control / Approval

Legal Issues

  1. 1 Whether the proposed merger between Government Employees Pension Fund and Siyanda Resources is likely to substantially prevent or lessen competition in the relevant market.
  2. 2 Whether any public interest concerns arise from the proposed transaction.

Ratio Decidendi

The Tribunal found that there are no overlaps between the activities of the merging parties, as Siyanda Resources is an investment holding company with interests in mining, while the Public Investment Corporation does not control firms active in those markets. The Competition Commission concluded that the transaction is unlikely to substantially lessen or prevent competition. Furthermore, no public interest concerns were identified. The Tribunal agreed with the Commission's analysis and approved the merger unconditionally.

Court Disposition

Merger unconditionally approved.

Orders

  • The merger between Government Employees Pension Fund and Siyanda Resources (Pty) Ltd is approved without conditions.