Nedbank Limited v Erf Sandown Proprietary Limited (LM058Aug21) [2021] ZACT 97 (27 September 2021)

Nedbank Limited v Erf Sandown Proprietary Limited (LM058Aug21) [2021] ZACT 97 (27 September 2021)

The Tribunal found that the merger notification complied with the requirements of the Competition Act and that the proposed transaction does not raise competition concerns. The recommendation of the Competition Commission was accepted, and the merger was approved in terms of section 16(2)(a). The Tribunal further ordered the issuance of a Merger Clearance Certificate in accordance with rule 35(5)(a).

Citation
[2021] ZACT 97
Parties
Applicant: Nedbank Limited; Respondent: Erf Sandown Proprietary Limited
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
27 September 2021
Case Number
LM058Aug21
Procedural Posture
Merger Application / Final Determination
Outcome
Merger approved and Merger Clearance Certificate ordered.
Judges
E Daniels, H Cheadle, I Valodia
Legal Topics
Merger Clearance, Competition Act Section 16, Merger Notification, Tribunal Procedure
Competition Law Merger Clearance Competition Act Section 16 Merger Notification Tribunal Procedure

Case Brief

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Parties

Nedbank Limited

Applicant

Erf Sandown Proprietary Limited

Respondent

Procedural Posture

Merger Application / Final Determination

Legal Issues

  1. 1 Whether the proposed merger between Nedbank Limited and Erf Sandown Proprietary Limited should be approved under the Competition Act.
  2. 2 Whether the merger notification and clearance procedures under the Act have been properly followed.

Ratio Decidendi

The Tribunal found that the merger notification complied with the requirements of the Competition Act and that the proposed transaction does not raise competition concerns. The recommendation of the Competition Commission was accepted, and the merger was approved in terms of section 16(2)(a). The Tribunal further ordered the issuance of a Merger Clearance Certificate in accordance with rule 35(5)(a).

Court Disposition

Merger approved and Merger Clearance Certificate ordered.

Orders

  • The merger between Nedbank Limited and Erf Sandown Proprietary Limited is approved in terms of section 16(2)(a) of the Competition Act.
  • A Merger Clearance Certificate is to be issued in terms of Competition Tribunal rule 35(5)(a).