Prohibited transactions raise substantial competition or public interest concerns that cannot be remedied
By Angelo Tzarevski, Director Designate, Competition & Antitrust Practice, Baker McKenzie, Johannesburg
On 22 February 2023, the South African Competition Tribunal issued an order prohibiting the proposed intermediate merger between Corruseal Group (Pty) Ltd (Corruseal) and Neopak Holdings (Pty) Ltd (Neopak). In their request for consideration to the Tribunal, Corruseal and Neopak sought to have the proposed merger unconditionally approved by the Tribunal or, alternatively, approved subject to conditions. The Tribunal’s order follows a hearing held in November and December 2022 and February 2023, during which several factual witnesses as well as economic experts testified before the Tribunal. The Tribunal noted that the reasons for its decision would be issued in due course.
The tran...