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The Tribunal has unconditionally approved the large merger wherein Bidvest Commercial Products (Pty) Ltd (“BCP”) intends to acquire the business conducted by A Square Equipment (Pty) Ltd, A Square Forklifts (Pty) Ltd, A Square Solutions (Pty) Ltd and Chase Technologies (Pty) Ltd, (collectively “the A Square Group”), as going concerns.
 
BCP controls Bidvest Materials Handling (Pty) Ltd (“BMH”), an importer and distributor of motorised materials handling equipment (sales and rental of both new and second-hand diesel, electric and gas-powered counterbalanced forklifts) as well as a supplier of related spare parts and maintenance services.
 
The A Square Group is involved in the importation, sale and rental of motorised material handling equipment, with a primary focus on the rental of electric powered counterbalanced forklifts, as well as the supply of maintenance services and related spare parts including traction batteries.

JF Mouton Familietrust And PSG Group Limited

The Tribunal has conditionally approved the proposed large merger wherein JF Mouton Familietrust (“the JF Trust”) intends to increase its shareholding in PSG Group Limited (“PSG”).
 
The acquiring group comprises investment holding companies and its investment portfolio focus is on financial services, banking and education. The JF Trust is active in agriculture.
 
PSG is an investment holding company consisting of underlying investments that operate across a diverse range of industries which include financial services, education and food and related business, as well as early-stage investments in selected growth sectors.

Futuregrowth Asset Management (Pty) Ltd (acting as agent for Old Mutual Life Insurance Company) And Fruitone Holdings (Pty) Ltd

 The Tribunal has unconditionally approved the large merger whereby Futuregrowth Asset Management (Pty) Ltd ("Futuregrowth"), acting as an agent for Old Mutual Life Assurance Company (South Africa) Ltd (“OMLACSA”), intends to subscribe for shares of Fruitone Holdings (Pty) Ltd ("Fruitone"). Post-merger, OMLACSA (via Futuregrowth) will acquire joint control over Fruitone.
 
Futuregrowth is a specialist asset management company operating within the acquiring group. The acquiring group is an international long-term savings, insurance, banking and investment group, offering financial products and services. For purposes of the proposed transaction, the relevant subsidiary or associate companies are OMLACSA and Futuregrowth. One of the funds in the portfolio of funds managed by Futuregrowth is the Futuregrowth Agri-Fund which specialises in the investment of agricultural land, biological assets, agriculture infrastructure and other related farming implements.
 
The target group is active in the cultivation and sale of citrus fruit domestically as well as on the export market. The target group owns farms in Limpopo, all of which are citrus farms save for one farm which grows macadamias and avocados.

Issued by Gillian de Gouveia, Communications Officer on behalf of the Competition Tribunal of South Africa