Setso Property Fund Proprietary Limited v Sanlam Life Insurance Limited; In re: Ansteys Woolworths (LM125Aug17) [2017] ZACT 57 (22 August 2017)

Setso Property Fund Proprietary Limited v Sanlam Life Insurance Limited; In re: Ansteys Woolworths (LM125Aug17) [2017] ZACT 57 (22 August 2017)

The Tribunal found that the proposed transaction does not result in a substantial prevention or lessening of competition in any relevant market, as there is no geographic overlap between the retail properties of the merging parties. The properties are located more than 10km apart, and therefore do not pose a competitive constraint on each other. Furthermore, the transaction does not raise any public interest concerns, as there will be no job losses or retrenchments, and the target property does not employ any staff. The Tribunal therefore approved the merger unconditionally.

Citation
[2017] ZACT 57
Parties
Applicant: Setso Property Fund Proprietary Limited; Respondent: Sanlam Life Insurance Limited
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
22 August 2017
Case Number
LM125Aug17
Procedural Posture
Large Merger Review / Approval
Outcome
Merger unconditionally approved.
Judges
Andiswa Ndoni, Fiona Tregenna, lmraan Valodia
Legal Topics
Large Merger Review, Horizontal Overlap, Public Interest, Retail Property Market
Competition Law Commercial and Corporate Large Merger Review Horizontal Overlap Public Interest Retail Property Market

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 1 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Parties

Setso Property Fund Proprietary Limited

Applicant

Sanlam Life Insurance Limited

Respondent

Procedural Posture

Large Merger Review / Approval

Legal Issues

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

Ratio Decidendi

The Tribunal found that the proposed transaction does not result in a substantial prevention or lessening of competition in any relevant market, as there is no geographic overlap between the retail properties of the merging parties. The properties are located more than 10km apart, and therefore do not pose a competitive constraint on each other. Furthermore, the transaction does not raise any public interest concerns, as there will be no job losses or retrenchments, and the target property does not employ any staff. The Tribunal therefore approved the merger unconditionally.

Court Disposition

Merger unconditionally approved.

Orders

  • The large merger between Setso Property Fund Proprietary Limited and Sanlam Life Insurance Limited in respect of the Ansteys Woolworths letting enterprise is unconditionally approved.