Competition Tribunal Approves Two Major Mergers with Conditions

The Competition Tribunal of South Africa has approved two significant mergers, one with conditions and the other unconditionally, as announced on 5 May 2025.

Hudaco Trading's Acquisition of Insulation Businesses

Hudaco Trading (Pty) Ltd, a company specializing in the importation and distribution of branded industrial, automotive, and electronic consumable products, has received conditional approval to acquire Insulation Advanced Technology (Pty) Ltd, Isomec (Pty) Ltd, Isotec Balancing (Pty) Ltd, and Moholi Supplies (Pty) Ltd. These businesses, collectively known as the Isotec Group, manufacture and distribute specialized thermal and electrical insulation materials used in manufacturing, mining, railway, energy generation, and switchgear sectors.

The Tribunal's approval is subject to conditions related to a restraint of trade, aimed at ensuring fair competition in the relevant markets.

GEPF and NCS Property's Acquisition in Century City

In a separate decision, the Tribunal has unconditionally approved the proposed merger in which the Government Employees Pension Fund (GEPF), represented by the Public Investment Corporation SOC Ltd (PIC), and NCS Property (Pty) Ltd will acquire co-ownership rights in several property rental enterprises located in Century City, Cape Town. The target properties include 4- and 5-star hotel accommodation, conference facilities, office space, small retail components, and parking structures. After the merger, GEPF and NCS Property will jointly hold co-ownership rights in these properties.

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The GEPF is a statutory pension fund mandated to manage and administer retirement and related benefits for government employees, with the PIC serving as its asset manager. NCS Property is a newly incorporated entity established solely for this transaction.

These decisions reflect the Tribunal's ongoing role in overseeing mergers and acquisitions to promote fair competition and economic growth in South Africa.