The Tribunal has unconditionally approved the large merger whereby the Strategic Fuel Fund Association NPC (“SFF”) intends to acquire interest in the assets of bp Southern Africa Ltd’s (“bpSA”) Cape Town Terminal (“Cape Town Terminal”). Upon the implementation of the proposed transaction, SFF and bpSA will have joint control of the Cape Town Terminal.
 
The SFF’s main activity is the storage and management of South Africa’s strategic crude oil stockpile as well as privately-owned stocks of crude oil. Accordingly, the SFF operates various facilities for the storage of crude oil.
 
bpSA produces a range of petroleum products including diesel, petrol, illuminating paraffin, LPG, bitumen, fuel oil and jet fuel which are ultimately sold to retail and commercial and industrial customers in South Africa. The Cape Town Terminal is used for off-loading petrol, diesel, jet fuel and paraffin (kerosene) from vessels and via cross pumps.

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