Logistics acquisition given green light
Competition Commission recommends to approve transaction
SOUTH AFRICA: The Competition Commission has recommended that the Tribunal approve the proposed transaction between DP World Logistics and Cargo Services Seafreight in South Africa as it is unlikely to prevent competition in the market or raise any public interest issues.
Incorporated in the United Arab Emirates, DP World Logistics is wholly owned by DP World Limited which is in turn wholly owned by the Government of Dubai.
DP World controls a number of firms across the globe that include DP World Komatipoort (Pty) Ltd and Imperial Logistics Ltd in South Africa.
The primary target firm, Cargo Services, is incorporated in the Cayman Islands and is directly controlled by Cargo Sea Logistics Holdings, which is in turn ultimately wholly owned by Hundred Honest Ltd, a firm incorporated in Hong Kong. Cargo Services controls a number of firms across the globe.
In South Africa, Cargo Services provides freight forwarding and related services as well as freight forwarding solutions, including sea, air, road and rail transport as well as related services such as customs clearance, regulatory compliance and processing.
These are offered together with related services, specifically supply chain management/optimisation and advice in respect of container space utilisation.
1423