South Africa Competition Tribunal Approves Energy Mergers

Tribunal approves acquisition of Watts Energy and Watts Energy Transport The Competition Tribunal has approved a merger that will see Royale Energy (Pty) Ltd acquire shares in Watts Energy (Pty) Ltd while its subsidiary, Viva Oil (Pty) Ltd, acquires shares in Watts Energy Transport (Pty) Ltd. The acquiring group operates in the wholesale, retail, marketing, storage and distribution of petroleum products in South Africa’s energy sector, including petrol, diesel, illuminating paraffin, liquefied petroleum gas (“LPG”) and lubricants. It also provides transport and logistics services. Watts Energy and Watts Energy Transport operate in the bulk supply of petroleum products, particularly diesel, petrol and illuminating paraffin. Their customers include businesses in the agriculture, mining, transport and manufacturing sectors. Tribunal approves property acquisitions involving Luxanio and Mergence The Tribunal has unconditionally approved a merger that will see Luxanio Trading 181 (Pty) Ltd acquire two rental enterprises from Eptacor (Pty) Ltd; and Mergence Africa Property Fund (Pty) Ltd acquire six rental enterprises from the Moolman Group. Post-merger, the acquiring firms will control the target properties. Luxanio and Mergence form part of a wider property ownership group with a large portfolio of rental enterprises across South Africa. Of relevance to the transaction, the group has retail properties in various provinces. The target properties comprise eight retail properties located in Limpopo, Gauteng, the Free State and the North West.