The Competition Tribunal is expected to hear two large mergers next week between three cement manufacturers — Alpha, listed cement company PCC and Lafarge — and a proposed transaction involving investment holding company Venfin Limited and development and design company Intervid Limited.
According to the tribunal, Alpha is acquiring the two-thirds of the shares in Slagment that it does not own from PPC and Lafarge. Slagment manufactures ground slag, which is used in the cement industry.
Slagment is a joint venture company between the three cement manufacturers.
The Competition Commission, after an investigation, said it is of the view that the transaction will not substantially prevent or lessen competition and has referred the case to the tribunal.
The tribunal will hear the case on May 26, 27 and 28.
Another hearing involves the proposed transaction by Venfin to increase its shareholding in Intervid by buying the Howard Family Trust’s interests in Intervid.
Venfin is an investment holding company focusing on telecommunications, technology and media businesses, while Intervid provides integrated solutions in the electronic security and business process monitoring industry.
According to the Competition Commission, there is no product or services overlap and the transaction does give rise to significant public interest concerns.
The Competition Commission is of the view that the transaction will not substantially prevent or lessen competition and has referred the matter to the tribunal. The tribunal will hear the matter on May 26. — I-Net Bridge