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Competition Tribunal Approves Mergers

March 16, 2021

Department of Trade, Industry and Competition

The Competition Tribunal has approved the acquisition of Grobank Ltd by Mercantile Bank.

The trade, industry and competition department announced the merger in Government Gazette 44257.

Other mergers approved by the Tribunal include the acquisition of Peak Timber Ltd and Peak Forest Productions (Pty) Ltd by Shiselweni Forestry Company Ltd (TWK); Adcorp Support Services (Pty) Ltd by K2020791073 (Pty) Ltd; Bell Equipment Ltd by IA Bell and Company (Pty) Ltd; Absolute Pets (Pty) Ltd by SPE Mid-Market Fund and Silica Holdings (Pty) Ltd by Business Venture Investment No 2182 (Pty) Ltd.

In Notice 108, other mergers approved by the Tribunal are listed.

Mergers include the acquisition of Solar Capital DE AAR 3 (RF) (Pty) Ltd by Greenstreet 1 (Pty) Ltd; Flender GMBH by Zephyr German Bidco GMBH; Pepkor Speciality by Blue Falcon 188 Trading (Pty) Ltd; Hollard Holdings (Pty) Ltd by Dotsure Ltd and Certain Stores of Masscash by Devland Cash and Carry (Pty) Ltd.

In Notice 109, draft standards have been published for comment in terms of the Standards Act.

Draft standards include ergonomics of the thermal environment — assessment of heat stress using the WBGT (wet bulb globe temperature) index; code of practice for design, installation, commissioning and maintenance of fire detection and alarm systems in non-domestic premises and the identification and classification of dangerous goods for transport by road and rail modes.

New standards include connectors – safety requirements and tests; thunderstorm warning systems -protection against lightning; carbon dioxide capture, transportation and geological storage – vocabulary – cross cutting terms; household and similar electrical appliances – safety – part 2-25: particular requirements for microwave ovens, including combination microwave ovens; hearing protectors – safety requirements and testing – part 2: ear-plugs; equipment for general lighting purposes – EMC immunity requirements; national norm for the development of South African National Standards and earned value management in project and programme management.

Notice 110 also lists new standards including public swimming pools – computer vision systems for the detection of drowning accidents in swimming pools – safety requirements and test methods; terminology work and terminology science – vocabulary and terminology policies – development and implementation.

Meanwhile, in Notice 207, the Companies and Intellectual Property Commission has reminded entities that develop annual financial statements (AFS) following Generally Recognized Accounting Principles standards that, as from 1 October 2021, it will become mandatory to submit their AFSs in the XBRL format in compliance with the Companies Act of 2008 as amended.