Commission approves Afrimat’s proposed acquisition of Ochre Shimmer Trade and Invest 78
Following its ordinary meeting on December 9, the Competition Commission has approved JSE-listed construction materials and industrial minerals company Afrimat’s proposed acquisition of Ochre Shimmer Trade and Invest 78, without conditions.
The commission notes that JSE-listed Afrimat has nominated its wholly-owned subsidiary Afrimat Iron Ore (AIO) to acquire the target firm.
AIO controls various firms in South Africa.
The commission explains that, of relevance to the proposed transaction, is the acquiring group’s bulk commodities division. In this regard, it explains that the acquiring group produces iron-ore at its three mines located in the Northern Cape, namely Demaneng, Jenkins and Driehoekspan.
The target business is Ochre Shimmer Trade and Invest 78 in respect of its mining right over Farm Doornfontein 446, which contains iron-ore and manganese ore reserves.
The commission says it is of the view that the proposed transaction is unlikely to substantially lessen or prevent competition in any market, adding that the proposed transaction does not raise significant public interest concerns.
