JSE
THEE
THEE - Outcome of Competition Tribunal Hearings
OUTCOME OF COMPETITION TRIBUNAL HEARINGS
(Following is a guideline for journalists. The information can be used but
please do not quote Nandi Mokoena or the Tribunal)
1. Aveng Africa merger
On Friday 29 October 2010, the Tribunal approved this merger unconditionally.
Background
Aveng Africa intends to acquire the entire issued share capital of Dynamic Fluid
Control (DFC), which is currently held by Standard Bank, Kagiso Strategic
Investments and DWS Investment Trust. Aveng Africa is a multi-disciplinary
construction and engineering company focused on infrastructure, energy and
mining. DFC manufactures and supplies industrial valves to the water and mining
industries.
The Commission assessed the merger and concluded that, although the operations
of the merging parties overlap in the valve market, the merger is unlikely to
lessen competition substantially in this area. The Commission also considered
the possible competition effects of the fact that DFC is already a supplier of
valves to two firms within Aveng Africa`s group, namely Keyplan and GLTA Mining,
but concluded that this too would not result in a substantial lessening of
competition.
Accordingly, the Commission recommended that the Tribunal approve this merger
without conditions.
Issued By:
Nandi Mokoena
PR Consultant: Competition Tribunal
Cell: +27 (0) 82 399 1328
E-mail: NandisileM@live.co.za
On Behalf Of:
Lerato Motaung
Registrar: Competition Tribunal
Tel: (012) 394 3355
Cell: +27 (0) 82 556 3221
E-Mail: LeratoM@comptrib.co.za
Date: 01/11/2010 12:52:01 Produced by the JSE SENS Department.
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