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South Africa: Tribunal overrules Commission, allows horseracing merger

 |  November 15, 2012

The Competition Tribunal has conditionally approved a merger between two horseracing companies, overruling the Competition Commission’s earlier decision to ban the deal. Gold Circle and Thoroughbred Horseracing Trust have been approved to merge as long as there are no retrenchments in the first two years of the transaction. The two companies argue that the merger is necessary to keep the market afloat in the Western Cape.

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