Tribunal approves GEPF acquisition of shares in Alzu Agri

The Tribunal has unconditionally approved the transaction whereby the Government Employees Pension Fund (GEPF), represented by the Public Investment Corporation SOC Ltd (PIC), will acquire a minority shareholding in Alzu Agri (Pty) Ltd (Alzu Agri).

The GEPF primarily administers pensions and other benefits for government employees, investing in assets such as equities and properties. The PIC, a state-owned corporation solely controlled by the Finance Minister, invests funds for public entities.

Alzu Agri is a wholly owned subsidiary of Du Toit Zoe 8 (Pty) Ltd (Du Toit). Alzu Agri owns and controls several firms in the agricultural industry (collectively referred to as the Alzu Agri Group). This diversified agricultural and agro-processing group is involved in maize production, animal feed production and cattle and pig breeding, among other activities.

Of relevance to the proposed transaction are two of Alzu Agri’s subsidiaries which produce feed for various livestock, poultry and game for the general public.

Post-merger, Alzu will be jointly controlled by Du Toit and the GEPF.

In its assessment, the Commission found that the transaction is unlikely to substantially prevent or lessen competition in any relevant market. The Commission was also of the view that the transaction presents no public interest concerns.

Issued by:

Gillian de Gouveia, Communications Officer

On behalf of the Competition Tribunal of South Africa
Tel: +27 (0) 12 394 1383
Cell: +27 (0) 82 410 1195
E-Mail: GillianD@comptrib.co.za
Twitter: @comptrib