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JSE
THEE
THEE - Notice of upcoming Competition Tribunal hearings
NOTICE OF UPCOMING COMPETITION TRIBUNAL HEARINGS
(Following is a guideline for journalists. The information can be used but
please do not quote Nandi Mokoena or the Tribunal)
CASE(S) 1. Proposed large merger between Swanvest 120 (Pty) Ltd and
Indwe Broker Holdings Ltd
2. Settlement between the Commission and Rooibos Ltd
DATE Wednesday, 17 November 2010
TIME 10H00
PLACE The dti Campus
77 Meintjies Street
Mulayo Building, (Block C)
Sunnyside, Pretoria
Tel: +27 (0) 12 394 3300
Fax: +27 (0) 12 394 0169
Website: http://www.comptrib.co.za
1. Proposed large merger between Swanvest 120 (Pty) Ltd and Indwe Broker
Holdings Ltd
In this transaction Swanvest, a wholly owned subsidiary of Santam Ltd, intends
to acquire Indwe which is currently controlled jointly by the Thebe and Pamodzi
groups. Through its holdings, Indwe operates as a short term insurance broker
and a short term insurance administrator. Swanvest on the other hand provides
short term insurance.
Through this merger, Swanvest/Santam hope to protect their interest in valuable
insurance work being placed with them by the target firm, given that the
controlling Thebe and Pamodzi group companies are exiting in order to realise
their investment in Indwe.
The Competition Commission assessed the merger and found no significant
competition concerns. The Commission is recommending to the Tribunal that it
approve this merger without conditions.
2. Settlement between the Commission and Rooibos Ltd
The Tribunal`s hearing in the Rooibos settlement agreement will continue on
Wednesday. The Tribunal had asked the Commission and Rooibos, on 8 September
2010, to reconsider some clauses in the agreement that were ambiguous. The
Commission and Rooibos have now submitted an amended settlement to address those
issues.
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: 15/11/2010 14:33:01 Produced by the JSE SENS Department.
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