On 18 July 2012 the Competition Tribunal (Tribunal) issued
reasons for the conditional approval of the merger between Tedelex
Trading (Proprietary) Limited (Tedelex) and Sammeg Satellite
(Proprietary) Limited, Sammeg Cape (Proprietary) Limited and Sammeg
KZN (Proprietary) Limited (collectively Sammeg). The conditions are
aimed at preventing the retrenchment of employees.
On 2 April 2012 the Tribunal approved the intermediate merger
between Tedelex and Sammeg, subject to the revised conditions
prescribed by the Competition Commission (Commission).
Tedelex is a wholly-owned subsidiary of listed company
Amalgamated Appliance Holdings Limited and is involved in the
marketing and supply of household appliances and electrical
accessories. Sammeg supplies electrical accessories and television
reception equipment.
The Commission found that as all the parties involved supply
electrical accessories, there is a horizontal overlap between the
parties. The Commission however concluded that the market is broad
with various competitors involved.
A public interest concern was raised in the form of possible job
losses as a result of the merger. The Commission therefore imposed
the condition that no employees of the merging parties should be
retrenched for a period of two years; but revised the condition to
state that no merger-specific retrenchments should occur.
The Tribunal concluded that the transaction does not raise any
further public interest concerns and that the transaction is
unlikely to substantially prevent or lessen competition.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
Specific Questions relating to this article should be addressed directly to the author.
Article body Current Length: 4306 chars Long including spaces
SourcePreview
The Women Corporate Directors (WCD) held a breakfast seminar to discuss Management Liability and the consequent protection mechanisms available to directors and officers.
Key Points
The seminar included female directors and officers from across industries conversing and sharing best practices, and challenges on management liability. The vision of WCD is to be a vehicle to share global and local
Under the 1973 Companies Act non-subscribers could either be elected to the board of directors or appointed by the board in order to fill a casual vacancy.
Another important judgement for Business Rescue was handed down in the North Gauteng High Court by his Honorable Justice Legodi in the matter of P T van Staden v Angel Ozone Products CC (In Liquidation) & others on the 12th of October 2012.
A private company is famously distinguished from a public company on account of the fact that its memorandum of incorporation must prohibit it from offering its securities to members of the public.
LLCs are one of the most popular vehicles for carrying out
business in the UAE outside of the Free Zones where the business
activity does not involve banking, insurance or investment (where
another corporate vehicle is required).
Twitter
Facebook
Digg 
