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ARTICLE · 31 MAY 2024

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Transformative Transactions: Why RMB Ventures' Investment In Bulldog Group Won The Competition Tribunal's Unconditional Approval

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The recent investment by RMB Ventures and Mohau Equity Partners in the Bulldog Group represents not just a strategic business move, but an example of a transformative transaction ...

South AfricaAntitrust/Competition Law
Lucinda Verster
Lucinda Verster
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The recent investment by RMB Ventures and Mohau Equity Partners in the Bulldog Group represents not just a strategic business move, but an example of a transformative transaction that is in lockstep with South Africa's amended Competition Law.

The 2019 amendments to the Competition Act have reshaped the landscape of mergers and acquisitions by mandating the promotion of a greater spread of ownership, particularly among Historically Disadvantaged Persons (HDPs). This legislative change underscores a crucial shift towards balancing competition and public interest factors equally, aiming to dismantle the longstanding economic disparities that have characterised our economy.

This transaction has been particularly notable for its genuine commitment to these principles. On 26 March 2024, the Competition Tribunal unconditionally approved the deal, recognising the significant increase in HDP ownership within Bulldog Group. By granting Bulldog 31% black female ownership

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