Tribunal Conditionally Approves Cold Storage Merger

On 20 September 2012 the Competition Tribunal conditionally approved the large merger involving Oceana Group Limited and V&A Cold Storage (Proprietary) Limited. The Tribunal's reasons for the approval were issued on 6 November 2012.

Oceana is listed on both the Johannesburg Stock Exchange and the Namibian Stock Exchange. The transaction involves the acquisition of the business of V&A Cold Storage by a subsidiary of Oceana.

In assessing the merger, the Competition Commission defined the market as the broader Cape Town market for the cold storage of packaged fish and non-fish products, as well as a separate market for the handling and cold storage at the Table Bay Harbour of loose and packaged fish destined for export. The Tribunal found that the businesses of the parties overlap in respect of the provision of cold storage space and related services in the broader Cape Town area.