Nedbank Limited v Erf Sandown Proprietary Limited (LM058Aug21) [2021] ZACT 97 (27 September 2021)
- Citation
- [2021] ZACT 97
- Status
- Order
- Jurisdiction
- South Africa
- Court
- Competition Tribunal
- Panel
- E Daniels, H Cheadle, I Valodia
- Case number
- LM058Aug21
More details
- Court
- Competition Tribunal
- Panel
- E Daniels, H Cheadle, I Valodia
- Case number
- LM058Aug21
On this page
Professional case brief
Research organized from the available case record
01
Holding and result
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).
02
Material facts
Parties
Nedbank Limited
ApplicantErf Sandown Proprietary Limited
Respondent03
Procedural history
Posture
Merger Application / Final Determination
04
Questions and positions
Legal issues
- 01
Whether the proposed merger between Nedbank Limited and Erf Sandown Proprietary Limited should be approved under the Competition Act.
- 02
Whether the merger notification and clearance procedures under the Act have been properly followed.
Party arguments
- Applicant
- Nedbank Limited submitted that the proposed merger meets the requirements of the Competition Act and does not substantially prevent or lessen competition. The parties complied with the notification procedures and requested approval and issuance of a Merger Clearance Certificate.
- Respondent
- Erf Sandown Proprietary Limited did not oppose the merger and confirmed compliance with the Competition Act's notification and procedural requirements. No adverse competition effects were raised.
05
Court’s reasoning
Legal principles
- 01
Competition Act, 1998, section 16(2)(a)
A merger may be approved if it does not substantially prevent or lessen competition and all procedural requirements under the Competition Act are satisfied.
- 02
Competition Tribunal rule 35(5)(a)
The Tribunal must issue a Merger Clearance Certificate upon approval of a merger in accordance with its rules.
06
Ratio, limits and disposition
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.
- 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).
Source and reliance status
Competition Tribunal
This page organises the available record for research. Confirm quotations, current status, and subsequent treatment against the official source before relying on the case.
Judgment reading view
Judgment text
The complete available source text.
Competition Tribunal
Order
SAFLII Note: Certain personal/private details of parties or witnesses have been redacted from this document in compliance with the law and
SAFLII Policy
COMPETITION
TRIBUNAL OF SOUTH AFRICA
Case No.: LM058Aug21
In the matter between:
Nedbank Limited Primary
Acquiring Firm
And
Erf [….] Sandown Proprietary Limited Primary
Target Firm
Panel: E Daniels (Presiding Member)
H Cheadle (Tribunal Panel Member)
I Valodia (Tribunal Panel Member)
Heard on: 27 September 2021
Decided on: 27 September 2021
ORDER
Further to the recommendation of the Competition Commission in terms of section 14A(1)(b) of the Competition Act, 1998 (“the Act”) the Competition Tribunal orders that
1. the merger between the abovementioned parties be approved in terms of section 16(2)(a); and
2. a Merger Clearance Certificate be issued in terms of Competition Tribunal rule 35(5)(a).
Date: 27 September 2021
Presiding Member Mr Enver Daniels
Concurring: Mr Halton Cheadle and Prof. Imraan I. Valodia
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