South Africa Case Law

Grancy Property Limited and Another v Dines Chandra Manilal Gihwala and Others (512/2022)

Grancy Property Limited and Another v Dines Chandra Manilal Gihwala and Others (512/2022) [2024] ZASCA 144; 2025 (2) SA 76 (SCA) (23 October 2024)

Court

Supreme Court of Appeal

Case number

512/2022

Judges

Schippers, Hughes, Goosen, Coppin, Bloem

The Supreme Court of Appeal held that Grancy was entitled to the economic benefit of half the additional Scharrig option shares allocated to the DGFT, as established by the Joffe Schedule and the terms of the Scharrig agreement. The Court found that Grancy had authorised the disposal of its initial and option shares at R5.75 per share in January 2006 and had accepted the proceeds, negating claims of unauthorised sale or entitlement to higher damages based on the highest intermediate value principle. The Court rejected the application of the highest intermediate value rule, finding it foreign…

Source excerpt

• Breach Of Fiduciary Duty
• Quantification Of Damages
• Black Economic Empowerment
• Secret Profit Disgorgement
• Prescription
• In Duplum Rule

Momentum Metropolitan Strategic Investments Proprietary Limited v Investment Managers Group Proprietary Limited and Another (LM104Oct23)

Momentum Metropolitan Strategic Investments Proprietary Limited v Investment Managers Group Proprietary Limited and Another (LM104Oct23) [2024] ZACT 8; [2024] 2 CPLR 21 (CT) (19 February 2024)

Court

Competition Tribunal

Case number

LM104Oct23

Judges

L Mncube, A Wessels, M Mazwai

The Competition Tribunal conditionally approved Momentum Metropolitan’s acquisition of Investment Managers and 50% of Royal Investment, subject to confidentiality safeguards.

• Large Merger Review
• Cross Shareholding
• Public Interest
• Employment Effects
• Black Economic Empowerment
• Confidentiality Conditions

Attacq Waterfall Investment Company (Pty) Ltd v Pocket 3 and Pocket 24 on Portion 1 of the Waterfall Farm 5 (LM090Sep23)

Attacq Waterfall Investment Company (Pty) Ltd v Pocket 3 and Pocket 24 on Portion 1 of the Waterfall Farm 5 (LM090Sep23) [2023] ZACT 79 (4 December 2023)

Court

Competition Tribunal

Case number

LM090Sep23

Judges

AW Wessels, T Vilakazi, G Budlender

The Competition Tribunal unconditionally approved Attacq Waterfall Investment Company’s merger to increase its share in development rights for two Waterfall Farm land parcels.

• Large Merger Review
• Horizontal Overlap
• Public Interest Employment
• Black Economic Empowerment
• Industrial Property Market
• Development Rights

Sanlam Emerging Markets Proprietary Limited and Another v SAN JV (RF) Proprietary Limited (LM100Aug22)

Sanlam Emerging Markets Proprietary Limited and Another v SAN JV (RF) Proprietary Limited (LM100Aug22) [2023] ZACT 40; [2023] 3 CPLR 44 (CT) (17 August 2023)

Court

Competition Tribunal

Case number

LM100Aug22

Judges

J Wilson, F Tregenna, I Valodia

The Competition Tribunal conditionally approved Sanlam and Allianz’s joint acquisition of SAN JV, imposing restrictions on South African activities and information sharing.

• Large Merger Review
• Vertical And Horizontal Overlap
• Public Interest Conditions
• Input Foreclosure
• Customer Foreclosure
• Black Economic Empowerment

Nedbank Limited v Emling Properties Proprietary Limited (LM163Dec22)

Nedbank Limited v Emling Properties Proprietary Limited (LM163Dec22) [2023] ZACT 10 (30 March 2023)

Court

Competition Tribunal

Case number

LM163Dec22

Judges

A Wessels, T Vilakazi, A Ndoni

The Competition Tribunal unconditionally approved Nedbank’s acquisition of a 30% stake in Emling Properties, finding no substantial competition or public-interest concerns.

• Large Merger Notification
• Market Share Analysis
• Public Interest
• Black Economic Empowerment
• Employment Effects
• Merger-control

Unico Property Partners (Pty) Ltd v Khumonetix (Pty) Ltd in Respect of 6 Industrial Properties (LM154Dec22)

Unico Property Partners (Pty) Ltd v Khumonetix (Pty) Ltd in Respect of 6 Industrial Properties (LM154Dec22) [2023] ZACT 12 (22 March 2023)

Court

Competition Tribunal

Case number

LM154Dec22

Judges

Jerome Wilson, Tregenna Fiona, Imraan Valodia

The Competition Tribunal unconditionally approved Unico Property Partners’ acquisition of six industrial properties from Khumonetix, finding no substantial competition or public interest concerns.

• Large Merger Review
• Horizontal Overlap
• Public Interest
• Black Economic Empowerment
• Employment Effects
• Competition-law

K2018366052 (South Africa) (Pty) Ltd and Others v Castleview Property Fund Ltd (LM065Jul22)

K2018366052 (South Africa) (Pty) Ltd and Others v Castleview Property Fund Ltd (LM065Jul22) [2022] ZACT 74 (15 September 2022)

Court

Competition Tribunal

Case number

LM065Jul22

Judges

T Vilakazi, Y Carrim, F Tregenna

The Competition Tribunal unconditionally approved a large merger involving the Acquiring Firms and Castleview Property Fund Ltd, finding no substantial competition or public interest concerns.

• Large Merger Review
• Market Share Analysis
• Public Interest
• Black Economic Empowerment
• Employment Protection
• Large-merger-review

Limpopo Economic Development Agency v Klopper NO & 10 Others (982/2020)

Limpopo Economic Development Agency v Klopper NO & 10 Others (982/2020) [2022] ZASCA 73 (25 May 2022)

Court

Supreme Court of Appeal

Case number

982/2020

Judges

Petse DP, Plasket JA, Mbatha JA, Carelse JA, Musi AJA

The majority held that clause 17 of DCM's mining right did not grant the appellant a 40% stake in the mining right itself. The clause, though poorly drafted, referred to the shareholders agreement between LEDA and EAMI regarding ASA Metals (Pty) Ltd, not DCM's mining right. The Minister had no lawful authority to arbitrarily grant a stake in the mining right to anyone other than the holder, and the appellant's interpretation would produce an illegal result. The appellant only held a 40% shareholding in ASA, which could be diluted in favour of an empowerment shareholder as contemplated by the…

Source excerpt

• Mining Right Conversion
• Shareholders Agreement Interpretation
• Black Economic Empowerment
• Ministerial Conditions
• Business Rescue
• Statutory Interpretation

TLG MidCo (Pty) Ltd v The Logistics Group (Pty) Ltd (LM150Dec21)

TLG MidCo (Pty) Ltd v The Logistics Group (Pty) Ltd (LM150Dec21) [2022] ZACT 3; [2022] 1 CPLR 15 (CT) (16 March 2022)

Court

Competition Tribunal

Case number

LM150Dec21

Judges

Andreas Wessels, Liberty Mncube, Yasmin Carrim

The Competition Tribunal conditionally approved TLG MidCo’s acquisition of TLG, finding no competition concerns and imposing HDP ownership conditions.

• Large Merger Review
• Public Interest Conditions
• Black Economic Empowerment
• Ownership Spread
• Section 12a Competition Act
• Large-merger-review

DP World Logistics FZE v Imperial Logistics (LM070Sep21)

DP World Logistics FZE v Imperial Logistics (LM070Sep21) [2022] ZACT 50 (24 February 2022)

Court

Competition Tribunal

Case number

LM070Sep21

The Competition Tribunal conditionally approved DP World’s acquisition of Imperial Logistics, imposing public interest conditions on worker ownership, empowerment, and capital spending.

• Merger Control
• Public Interest Conditions
• Employee Share Ownership
• Enterprise Development
• Black Economic Empowerment
• Merger-control