Her Majesty’s Treasury v Royal Bank of Scotland Group Plc (122/LM/Nov08) [2009] ZACT 11 (13 February 2009)

Her Majesty’s Treasury v Royal Bank of Scotland Group Plc (122/LM/Nov08) [2009] ZACT 11 (13 February 2009)

The Tribunal found that there is no overlap in the activities of the merging parties in South Africa, as HM Treasury does not conduct any business in the country. Consequently, the proposed transaction is unlikely to substantially prevent or lessen competition in any relevant market. Furthermore, the transaction does not raise any significant public interest concerns. The Tribunal therefore approved the acquisition.

Citation
[2009] ZACT 11
Parties
Applicant: Her Majesty’s Treasury; Respondent: Royal Bank of Scotland Group Plc
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
13 February 2009
Case Number
122/LM/Nov08
Procedural Posture
Merger Control / Tribunal Approval and Reasons for Decision
Outcome
Merger approved without conditions.
Judges
D Lewis, Y Carrim, N Manoim
Legal Topics
Merger Control, Public Interest, Market Stability
Competition Law Banking and Finance Merger Control Public Interest Market Stability

Case Brief

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Parties

Her Majesty’s Treasury

Applicant

Royal Bank of Scotland Group Plc

Respondent

Procedural Posture

Merger Control / Tribunal Approval and Reasons for Decision

Legal Issues

  1. 1 Whether the proposed acquisition would substantially prevent or lessen competition in South Africa.
  2. 2 Whether the transaction raises any significant public interest concerns.

Ratio Decidendi

The Tribunal found that there is no overlap in the activities of the merging parties in South Africa, as HM Treasury does not conduct any business in the country. Consequently, the proposed transaction is unlikely to substantially prevent or lessen competition in any relevant market. Furthermore, the transaction does not raise any significant public interest concerns. The Tribunal therefore approved the acquisition.

Court Disposition

Merger approved without conditions.

Orders

  • The acquisition by Her Majesty’s Treasury of the Royal Bank of Scotland Group Plc is approved.
  • No conditions are attached to the approval.