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The Tribunal will hear a proposed merger whereby Emerging African Property Partners (Pty) Ltd (EAPP) intends to acquire Lisaline Investment Holdings (Pty) Ltd (Lisaline Holdings) from Enigma Property (Pty) Ltd.
 
EAPP is a new company established with the mandate of investing in sale and leaseback transactions where the focus is on industrial and big box retail warehousing properties with triple net leases. EAPP is to be jointly controlled by the Government Employee Pension Fund and Emerging African Property Holdings (Pty) Ltd. 
 
In its analysis, the Commission found that the merger will not result in a significant lessening of competition. It also found that the proposed transaction does not raise any public interest concerns. The Commission has therefore recommended approval without conditions.

Tribunal to hear Comair/Star Air merger 

Private-sector airline group, Comair Limited (Comair), intends to acquire the entire issued share capital of Star Air Cargo (SAC) and Star Air Maintenance (SAM).
 
Comair offers scheduled airline services within South Africa, sub-Saharan Africa and the Indian Ocean Islands. It operates the British Airways brand and the Kuluala low-cost airline in South Africa. The company operates 27 Boeing aircraft, 18 of which are owned by the group. The remaining 9 are leased from local and foreign leasing companies.
 
SAC and SAM, which provide aircraft leasing and maintenance services, hold international and domestic air service licenses to transport passengers and cargo. Their fleet comprise 10 Boeing aircraft (five are configured for cargo and five for passengers). The aircraft are leased to various customers.
 
Concerns relating to the transaction have been raised by third parties. The Commission has recommended that the proposed merger be approved without conditions.
 

Brimstone seeks sole control of Firefly in proposed acquisition    

In this proposed merger, Brimstone Investment Corporation Ltd (Brimstone) seeks to move from joint to sole control of Firefly Investments 306 (Pty) Ltd (Firefly).
 
Brimstone, a public company listed on the JSE, is an investment holding company with various shareholding interests in companies in the health, food, financial services, property and other related sectors. Of relevance to the proposed transaction is Brimstone’s shareholding in Obsidian Health, a company whose shares are held by Firefly.
 
Firefly is a special purpose vehicle incorporated for the purposes of holding the entire share capital in Obsidian. Obsidian supplies healthcare products to the public and private sectors within sub-Saharan Africa. Its portfolio of products includes capital equipment and medical devices used for cardiology, cardiovascular, theatre, ICU and high care purposes.  
 
In its assessment, the Commission found that the proposed transaction is unlikely to prevent or lessen competition in any relevant market. The Commission also found that there were no public interest concerns. It has recommended that the merger be approved without conditions.

Tribunal to hear merger in vehicle leasing, fleet management services market

Bidvest Bank, a wholly owned subsidiary of Bidvest Group, intends to acquire sole control of Eqstra Investment Holdings, a company that provides end-to-end fleet management solutions.
 
Bidvest Bank offers banking and financial service products. Relevant to the proposed transaction is Bidvest Bank’s fleet management services. Eqstra Investment Holdings provides fleet consulting, fleet acquisition, fleet services, maintenance management, fuel management, risk management, GPS tracking and fleet re-marketing among others.
 
Conditions addressing employment concerns have been proposed by the Commission. 

Tribunal to hear proposed merger in market for provision of rental space in hospital property in Cape Town and surrounds  

This is a merger in the market for the provision of rental space in hospital property. Growthpoint Healthcare, controlled by Growthpoint Properties, intends to acquire NewCo, a newly established company created for purposes of this transaction.
 
Growthpoint Healthcare owns two hospital properties in KZN and the Western Cape respectively. However, it does not manage the operations at any of the healthcare facilities.
 
Prior to the implementation of the proposed transaction, NewCo will acquire Growthpoint Healthcare as a going concern, comprising: 

• The hospital property in Somerset West;
• The lease agreement between Crimson and Busamed Paardevlei Private Hospital;
• The contractual rights and obligations of the target firm;
• The fixtures and fittings of a permanent nature to the property and buildings; and 
• All other movables required for the administration of the target firm and the liabilities. 

The Commission is of the view that the proposed transaction is unlikely to substantially prevent or lessen competition. In addition, it has found no public interest concerns.

Issued by The Competition Tribunal