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ARTICLE · 14 AUGUST 2012

Tribunal Conditionally Approves Merger Between Synergy And Khuthala

Webber Wentzel
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On 20 July 2012 the Competition Tribunal (Tribunal) issued its reasons for the conditional approval of the intermediate merger between Synergy Income Fund Limited (Synergy) and Khuthala Alliance (Proprietary) Limited (Khuthala).

South AfricaAntitrust/Competition Law
Webber Wentzel'S Competition Practice Group
Webber Wentzel'S Competition Practice Group

On 20 July 2012 the Competition Tribunal (Tribunal) issued its reasons for the conditional approval of the intermediate merger between Synergy Income Fund Limited (Synergy) and Khuthala Alliance (Proprietary) Limited (Khuthala). The conditions were issued to protect small businesses by requiring the removal of the exclusivity clause from the lease between Spar and Khuthala.

Spar is a 20% shareholder in Capital Land Asset Management (Proprietary) Limited, which is the fund manager of Synergy. The transaction was conditionally approved by the Tribunal on 8 March 2012.

Synergy is a variable loan stock company that owns certain retail property in various shopping centres that acquired the letting enterprise from Khuthala, known as the King Senzangakhona Shopping Centre.

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