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Real Economy News in Real Time
R/€ = 15.50 Change: 0.04
R/$ = 13.88 Change: -0.02
Au 1426.24 $/oz Change: -1.46
Pt 854.09 $/oz Change: 3.61
 
 
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Commission recommends tribunal approve Robor’s acquisition of Macsteel MT&P business, with conditions

11th December 2018 BY: Tasneem Bulbulia
Creamer Media Reporter

The Competition Commission has recommended to the Competition Tribunal that it approve Robor’s proposed acquisition of Macsteel’s tubes and pipes business (MT&P), but with conditions.

The commission found that the proposed transaction is unlikely to result in a substantial prevention or lessening of competition in the relevant markets; however, it determined that the proposed merger would have a negative effect on employment, with about 311 employees to be negatively impacted on as a result of the transaction.

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The commission imposed a condition that Robor ensure that the 311 affected employees have the right of first refusal in the event that vacancies become available within the merging parties’ businesses.

The commission also imposed a condition that the merging parties do not retrench any additional employees as a result of the proposed merger. 

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EDITED BY: Chanel de Bruyn Creamer Media Senior Deputy Editor Online
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