RFS Holdings BV v ABN Amro Holdings NV (53/LM/Jul09) [2009] ZACT 60 (1 October 2009)

RFS Holdings BV v ABN Amro Holdings NV (53/LM/Jul09) [2009] ZACT 60 (1 October 2009)

The Tribunal found that the transaction would not result in a substantial lessening or prevention of competition in South Africa, as there was no overlap in the activities of the acquiring group and the target firm within the country. Furthermore, the transaction did not raise any significant public interest concerns. Accordingly, the Tribunal unconditionally approved the acquisition.

Citation
[2009] ZACT 60
Parties
Applicant: RFS Holdings BV; Respondent: ABN Amro Holdings NV
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
1 October 2009
Case Number
53/LM/Jul09
Procedural Posture
Merger Control / Tribunal Approval
Outcome
Merger unconditionally approved.
Judges
N Manoim, Y Carrim, A Wessels
Legal Topics
Merger Control, Substantial Lessening of Competition, Public Interest, International Banking Acquisition
Competition Law Banking and Finance Merger Control Substantial Lessening of Competition Public Interest International Banking Acquisition

Case Brief

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Parties

RFS Holdings BV

Applicant

ABN Amro Holdings NV

Respondent

Procedural Posture

Merger Control / Tribunal Approval

Legal Issues

  1. 1 Whether the proposed acquisition would result in a substantial lessening or prevention of competition in South Africa.
  2. 2 Whether the transaction raises any significant public interest concerns.

Ratio Decidendi

The Tribunal found that the transaction would not result in a substantial lessening or prevention of competition in South Africa, as there was no overlap in the activities of the acquiring group and the target firm within the country. Furthermore, the transaction did not raise any significant public interest concerns. Accordingly, the Tribunal unconditionally approved the acquisition.

Court Disposition

Merger unconditionally approved.

Orders

  • The acquisition by RFS Holdings BV of ABN Amro Holdings NV is unconditionally approved.