Supplier Development Fund Condition Finalised

Judge Dennis Davis, President of the Competition Appeal Court (the “CAC”), today handed down judgment detailing the final condition applicable to the Massmart Holdings Limited (“Massmart”) and Walmart Stores Inc. (“Walmart”) merger (namely the condition relating to the establishment of a supplier development programme).

Earlier this year, the CAC dismissed an appeal by the Minister of Economic Development, the Minister of Trade and Industry and the Minister of Agriculture, Forestry and Fisheries (the “Ministers”) to review and set aside the decision of the Competition Tribunal (the “Tribunal”) to approve Walmart’s acquisition of a 51% shareholding in Massmart.  At the same time, the CAC partially upheld the appeal application launched by the South African Commercial, Catering and Allied Workers Union (“SACCAWU”) against the Tribunal’s decision.