The Competition Commission has recommended the Competition Tribunal approve the proposed acquisition by Murray & Roberts (M&R) of a further 40% shareholding in Bombela Civils Joint Venture (BCVJ).
M&R’s current business operations are focused on natural resources market sectors, specifically within metals and minerals; oil and gas and power and water.
BCJV is a special purpose vehicle, which was established to design and build the civil works for the Gautrain rapid rail link.
The civil works were completed in December 2016. BCJV’s only remaining activities relate to its obligation to repair any latent defects within the civil works of the Gautrain.
Post-merger, M&R will manage the apportionment of the available funds.
The commission believes the proposed transaction is unlikely to substantially prevent or lessen competition in any market in South Africa.
In addition, the proposed transaction does not raise any public interest concerns.
