Macquarie Investment Holdings No. 2 (Pty) Ltd v Macquarie Air Finance Ltd (64/LM/Oct10) [2010] ZACT 74 (29 October 2010)

Macquarie Investment Holdings No. 2 (Pty) Ltd v Macquarie Air Finance Ltd (64/LM/Oct10) [2010] ZACT 74 (29 October 2010)

The Tribunal found that there is no product or geographic overlap between the activities of the merging parties, as Macquarie Investment Holdings No. 2 (Pty) Ltd has no activities in South Africa and Macquarie Air Finance Limited's services are not substitutable with those of Macquarie. The transaction would not substantially prevent or lessen competition in any relevant market in South Africa. Furthermore, there are no significant public interest concerns arising from the transaction. Accordingly, the Tribunal approved the merger.

Citation
[2010] ZACT 74
Parties
Applicant: Macquarie Investment Holdings No. 2 (Pty) Limited; Respondent: Macquarie Air Finance Limited
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
29 October 2010
Case Number
64/LM/Oct10
Procedural Posture
Merger Control / Approval of Merger
Outcome
Merger approved without conditions.
Judges
Yasmin Carrim, Andreas Wessels, Medi Mokuena
Legal Topics
Merger Control, Aircraft Leasing, Market Definition
Competition Law Commercial and Corporate Merger Control Aircraft Leasing Market Definition

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Parties

Macquarie Investment Holdings No. 2 (Pty) Limited

Applicant

Macquarie Air Finance Limited

Respondent

Procedural Posture

Merger Control / Approval of Merger

Legal Issues

  1. 1 Whether the proposed acquisition would substantially prevent or lessen competition in any relevant market in South Africa.
  2. 2 Whether there are any significant public interest concerns arising from the transaction.

Ratio Decidendi

The Tribunal found that there is no product or geographic overlap between the activities of the merging parties, as Macquarie Investment Holdings No. 2 (Pty) Ltd has no activities in South Africa and Macquarie Air Finance Limited's services are not substitutable with those of Macquarie. The transaction would not substantially prevent or lessen competition in any relevant market in South Africa. Furthermore, there are no significant public interest concerns arising from the transaction. Accordingly, the Tribunal approved the merger.

Court Disposition

Merger approved without conditions.

Orders

  • The acquisition by Macquarie Investment Holdings No. 2 (Pty) Limited of Macquarie Air Finance Limited is approved.
  • No conditions are attached to the approval.