Investec Property Ltd v Edgardale Properties (20/LM/Mar11) [2011] ZACT 38 (21 June 2011)

Investec Property Ltd v Edgardale Properties (20/LM/Mar11) [2011] ZACT 38 (21 June 2011)

The Tribunal found that the proposed transaction would not result in a substantial lessening or prevention of competition in any relevant market. The merged entity's market share in the light industrial property sector was overstated due to incomplete data, and the actual number of properties in the area was significantly higher than reported. No retrenchments or other public interest concerns were identified. The transaction was therefore approved unconditionally.

Citation
[2011] ZACT 38
Parties
Applicant: Investec Property Ltd; Respondent: Edgardale Properties
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
21 June 2011
Case Number
20/LM/Mar11
Procedural Posture
Merger Approval / Final Determination
Outcome
The proposed transaction is approved unconditionally.
Judges
Andreas Wessels, Medi Mokuena, Andiswa Ndoni
Legal Topics
Merger Notification, Substantial Lessening of Competition, Public Interest, Property Acquisition, Market Share Analysis
Competition Law Commercial and Corporate Land and Property Merger Notification Substantial Lessening of Competition Public Interest Property Acquisition Market Share Analysis

Case Brief

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Parties

Investec Property Ltd

Applicant

Edgardale Properties

Respondent

Procedural Posture

Merger Approval / Final Determination

Legal Issues

  1. 1 Whether the proposed acquisition of The Edgardale Properties by Investec Property Ltd is likely to result in a substantial lessening or prevention of competition in any relevant market.
  2. 2 Whether any public interest concerns arise from the proposed transaction.

Ratio Decidendi

The Tribunal found that the proposed transaction would not result in a substantial lessening or prevention of competition in any relevant market. The merged entity's market share in the light industrial property sector was overstated due to incomplete data, and the actual number of properties in the area was significantly higher than reported. No retrenchments or other public interest concerns were identified. The transaction was therefore approved unconditionally.

Court Disposition

The proposed transaction is approved unconditionally.

Orders

  • The merger between Investec Property Ltd and The Edgardale Properties is approved without conditions.