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South Africa: Concessions on food merger leave bad taste in parties’ mouths

 |  November 11, 2013

South Africa’s Competition Commission is reportedly being challenged by the merging parties Foodcorp and Oceana, which have stated they disagree with the concessions ordered to gain clearance for the merger.

According to reports, Oceana acquired Foodcorp’s fishing operations, but the Commission ordered that Foodcorp had to divest one brand name and a fish quota allocated by the Department of Agriculture, Forestry and Fisheries.

While the parties said they were aware of the need to sell the name brand, known as Glenryck, but disagreed with the order to divest the fishing quota, which they say was introduced as a condition in the final stages of the merger process.

According to reports, the companies will now appeal the decision to the Competition Tribunal.

Full Content: BDLive

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