Old Mutual Investment Group (South Africa) (Pty) Ltd v Main Street 642 (Pty) Ltd (017723) [2013] ZACT 106 (30 October 2013)

Old Mutual Investment Group (South Africa) (Pty) Ltd v Main Street 642 (Pty) Ltd (017723) [2013] ZACT 106 (30 October 2013)

The Tribunal found that there is no product or services overlap between the activities of the merging parties, as Old Mutual plc does not control any firm involved in the production of industrial minerals and the target firm is merely a ring-fenced investment vehicle. The transaction does not alter the structure of the market for the production of industrial minerals and will not result in any vertical effects. The merging parties confirmed that the transaction will not have any adverse impact on employment and that no retrenchments will result. No other public interest issues arise. Accordingly, the Tribunal concluded that the proposed transaction is unlikely to substantially prevent or...

Citation
[2013] ZACT 106
Parties
Applicant: Old Mutual Investment Group (South Africa) (Pty) Ltd; Respondent: Main Street 642 (Pty) Ltd
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
30 October 2013
Case Number
017723
Procedural Posture
Merger Approval / Decision
Outcome
The proposed merger is approved unconditionally.
Judges
Mondo Mazwai, Medi Mokuena, Fiona Tregenna
Legal Topics
Merger Control, Public Interest, Horizontal Assessment, Vertical Assessment
Competition Law Merger Control Public Interest Horizontal Assessment Vertical Assessment

Case Brief

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Parties

Old Mutual Investment Group (South Africa) (Pty) Ltd

Applicant

Main Street 642 (Pty) Ltd

Respondent

Procedural Posture

Merger Approval / Decision

Legal Issues

  1. 1 Whether the proposed acquisition will substantially prevent or lessen competition in any relevant market.
  2. 2 Whether the proposed transaction raises any public interest concerns.

Ratio Decidendi

The Tribunal found that there is no product or services overlap between the activities of the merging parties, as Old Mutual plc does not control any firm involved in the production of industrial minerals and the target firm is merely a ring-fenced investment vehicle. The transaction does not alter the structure of the market for the production of industrial minerals and will not result in any vertical effects. The merging parties confirmed that the transaction will not have any adverse impact on employment and that no retrenchments will result. No other public interest issues arise. Accordingly, the Tribunal concluded that the proposed transaction is unlikely to substantially prevent or...

Court Disposition

The proposed merger is approved unconditionally.

Orders

  • The proposed merger between Old Mutual Investment Group (South Africa) (Pty) Ltd and Main Street 642 (Pty) Ltd is approved unconditionally.