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COMPETITION TRIBUNAL OF SOUTH AFRICA

 

Case No.: LM187Feb23

 

 

In the matter between:

 

China Baowu Steel Group Corporation Ltd                       Primary Acquiring Firm

 

And

 

Sinosteel Group Corporation Ltd                                       Primary Target Firm

 

 

Panel:                          J Wilson (Presiding Member) L Mncube (Tribunal Member)

F Tregenna (Tribunal Member)

Heard on:                     14 March 2023

Decided on:                 14 March 2023

 

 

ORDER

 

 

Further to the recommendation of the Competition Commission in terms of section 14A(1)(b) of the Competition Act, 1998 (“the Act”) the Competition Tribunal orders that–

 

 

1.          the merger between the abovementioned parties be approved in terms of section 16(2)(a) of the Act; and

 

2.          a Merger Clearance Certificate be issued in terms of Competition Tribunal Rule 35(5)(a).

 

You applied to the Competition Commission on  28 December 2022 for merger approval in accordance with Chapter 3 of the Competition Act.

 

 

Your merger was referred to the Competition Tribunal in terms of section 14A of the Act, or was the subject of a Request for consideration by the Tribunal in terms of section 16(1) of the Act.

 

After reviewing all relevant information, and the recommendation or decision of the Competition Commission, the Competition Tribunal approves the merger in terms of section 16(2) of the Act, for the reasons set out in the Reasons for Decision.

 

This approval is subject to: no conditions.the conditions listed on the attached sheet.

 

The Competition Tribunal has the authority in terms of section 16(3) of the Competition Act to revoke this approval if

 

a)          it was granted on the basis of incorrect information for which a party to the merger was responsible.

b)          the approval was obtained by deceit.

c)          a firm concerned has breached an obligation attached to this approval.

 

 

The Registrar, Competition Tribunal

 

This form is prescribed by the Minister of Trade and Industry in terms of section 27 (2) of the Competition Act 1998 (Act No. 89 of 1998).

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