Kkr Dvb Aviation Capital Limited v AerCap Holdings N.V.; In re: A Portfolio of 37 Aircraft (LM051JUN16) [2016] ZACT 66 (17 August 2016)

Kkr Dvb Aviation Capital Limited v AerCap Holdings N.V.; In re: A Portfolio of 37 Aircraft (LM051JUN16) [2016] ZACT 66 (17 August 2016)

The Tribunal found that there is no overlap between the activities of the merging parties in South Africa, as the acquiring group is not active in the ownership or leasing of aircraft in the country. The transaction only involves the transfer of ownership of one aircraft located in South Africa, which is leased to Comair South Africa Limited. The Competition Commission concluded that the transaction is unlikely to substantially prevent or lessen competition in any market in South Africa, and the Tribunal concurred. Furthermore, the merging parties confirmed that the transaction will have no negative effect on employment and raises no other public interest concerns. Accordingly, the...

Citation
[2016] ZACT 66
Parties
Applicant: KKR DVB Aviation Capital Limited; Respondent: AerCap Holdings N.V.
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
17 August 2016
Case Number
LM051JUN16
Procedural Posture
Merger Control / Approval
Outcome
The proposed transaction is approved unconditionally.
Judges
Norman Manoim, Medi Mokuena, Andiswa Ndoni
Legal Topics
Merger Control, Public Interest, Substantial Prevention or Lessening of Competition, Aircraft Leasing
Competition Law Merger Control Public Interest Substantial Prevention or Lessening of Competition Aircraft Leasing

Case Brief

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Parties

KKR DVB Aviation Capital Limited

Applicant

AerCap Holdings N.V.

Respondent

Procedural Posture

Merger Control / Approval

Legal Issues

  1. 1 Whether the proposed transaction is likely to substantially prevent or lessen competition in any market in South Africa.
  2. 2 Whether the proposed transaction raises any public interest concerns, including employment effects.

Ratio Decidendi

The Tribunal found that there is no overlap between the activities of the merging parties in South Africa, as the acquiring group is not active in the ownership or leasing of aircraft in the country. The transaction only involves the transfer of ownership of one aircraft located in South Africa, which is leased to Comair South Africa Limited. The Competition Commission concluded that the transaction is unlikely to substantially prevent or lessen competition in any market in South Africa, and the Tribunal concurred. Furthermore, the merging parties confirmed that the transaction will have no negative effect on employment and raises no other public interest concerns. Accordingly, the...

Court Disposition

The proposed transaction is approved unconditionally.

Orders

  • The merger between KKR DVB Aviation Capital Limited and AerCap Holdings N.V. in respect of a portfolio of 37 aircraft is approved unconditionally.