Investec Bank Limited and Calulo Petrochemicals (Pty) Ltd (96/LM/Sep07) [2007] ZACT 75 (24 October 2007)

Investec Bank Limited and Calulo Petrochemicals (Pty) Ltd (96/LM/Sep07) [2007] ZACT 75 (24 October 2007)

The Tribunal found that the proposed transaction does not result in any horizontal overlap or vertical integration, as Investec does not have a controlling interest in the relevant sectors. The consolidation of shareholdings and assets under Calulo Petrochemicals does not raise competition concerns. No public interest issues were identified. Accordingly, the merger is unlikely to substantially prevent or lessen competition in any market and is approved unconditionally.

Citation
[2007] ZACT 75
Parties
Applicant: Investec Bank Limited; Respondent: Calulo Petrochemicals (Pty) Ltd
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
24 October 2007
Case Number
96/LM/Sep07
Procedural Posture
Merger Control / Merger Approval
Outcome
Merger approved unconditionally.
Judges
D Lewis, N Manoim, Y Carrim
Legal Topics
Merger Control, Joint Control, Minority Protection Rights, Public Interest, Horizontal Overlap, Vertical Integration
Competition Law Commercial and Corporate Merger Control Joint Control Minority Protection Rights Public Interest Horizontal Overlap Vertical Integration

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
Sign in to unlock

Parties

Investec Bank Limited

Applicant

Calulo Petrochemicals (Pty) Ltd

Respondent

Procedural Posture

Merger Control / Merger Approval

Legal Issues

  1. 1 Whether the proposed merger between Investec Bank Limited and Calulo Petrochemicals (Pty) Ltd is likely to substantially prevent or lessen competition in any market.
  2. 2 Whether any public interest issues arise from the transaction.

Ratio Decidendi

The Tribunal found that the proposed transaction does not result in any horizontal overlap or vertical integration, as Investec does not have a controlling interest in the relevant sectors. The consolidation of shareholdings and assets under Calulo Petrochemicals does not raise competition concerns. No public interest issues were identified. Accordingly, the merger is unlikely to substantially prevent or lessen competition in any market and is approved unconditionally.

Court Disposition

Merger approved unconditionally.

Orders

  • The merger between Investec Bank Limited and Calulo Petrochemicals (Pty) Ltd is approved without conditions.