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South Africa: Nestle/Pfizer finds more approval, with conditions

By  |  February 13, 2013

South Africa’s Competition Tribunal has reportedly approved of the Nestle-Pfizer Nutrition baby formula merger, but with hard-hitting conditions, according to reports. Nestle and Pfizer stand as the largest and third-largest infant formula market in the country. The approval’s catch, however, requires a large divestment from Pfizer of its infant milk formula business, as the Tribunal found that the merger would leave only Aspen as a top competitor in the market. The Tribunal has included a list of concessions the parties need to address before the merger goes through. According to reports, remedies that have been suggested are similar to the remedies used to approve of the same deal in Australia; under the terms, Pfizer would reportedly divest its infant milk formula business in South Africa, and its new owner would rebrand the company and its products.

 

Full Content: BDLive

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