Outcome of Tribunal cases - 18 October 2019
Type of matter
Commission’s recommendation to the Tribunal
Special Purpose Acquisition Partnership III And Rosond Holdings (Pty) Ltd
Approval without conditions
Approved without conditions
Competition Commission And Kewberg Cables and Braids (Pty) Ltd
Make the agreement an order of the Tribunal
Made an order of the Tribunal
Tribunal approves large merger – Special Purpose Acquisition Partnership III And Rosond Holdings
The Tribunal has approved, without conditions, the large merger whereby Special Purpose Acquisition Partnership III (Spap III) intends to acquire Rosond Holdings (Pty) Ltd.
Spap III is an en commandite partnership controlled by Capitalwork Private Equity Fund II (CWPE II). Rosond is a private company which provides surface exploration, underground drilling and geotechnical engineering services to mining and exploration industries.
In its assessment, the Commission found that the transaction does not give rise to any competition concerns or public interest concerns and recommended that it be approved without conditions.
Tribunal approves settlement: power cable company admits to price fixing
The Tribunal has confirmed a settlement agreement between the Commission and Kewberg Cables & Braids (Pty) Ltd (Kewberg), in which the company admits to involvement in cartel activity in relation to price fixing of communication and power cables.
Following an investigation in the market for the supply of power cables, the Commission alleged, among others, that all the members of the Association of Electric Cable Manufacturers of South Africa (AECMSA) including Kewberg, agreed on input prices or costs in relation to products used to manufacture communication and power cables.
Kewberg admitted that its conduct amounted to a contravention of the Competition Act and agreed to pay an administrative penalty of R30 000.00 (thirty thousand Rand).
Several other companies have also settled with the Commission in relation to the matter.
Gillian de Gouveia
Tel: +27 (0) 12 394 1383
Cell: +27 (0) 82 410 1195
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