Deputy Chairman, Ezra Davids, and partner, Ryan Kitcat, wrote
the South African chapter of the International Comparative Legal
Guide on Mergers & Acquisitions for 2021.
The chapter covers:
- Relevant Authorities and Legislation
- Mechanics of Acquisition
- Friendly or Hostile
- Information
- Stakebuilding
- Deal Protection
- Bidder Protection
- Target Defences
- Other Useful Facts
- Updates
An extract, on relevant new laws or practices, follows
below.
'The Competition Amendment Act, 18 of 2018 has introduced a
national security review, which requires the President to appoint a
committee to consider whether a merger involving a foreign
acquiring firm may have an adverse effect on the national security
interests of South Africa. If it would, the proposed merger may be
prohibited on national security grounds. As to what constitutes a
national security interest, the President must identify and publish
in the Government Gazette a list of national security
