BOWMAN GILFILLAN RECEIVES FIRST MERGER APPROVAL OF TRANSACTION ACTUALLY TAKING PLACE IN COMESA

Thursday, October 24, 2013
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On 8 October 2013, the COMESA Competition Commission (the “Commission”) unconditionally approved the acquisition of a controlling interest by PPC International Holdings Proprietary Limited (“PPC International”) in CIMERWA Limited (“Cimerwa”) of Rwanda (the “Transaction”). The merging parties have cement plants in Zimbabwe and Rwanda. Although the Transaction is of a “green fields” nature and there is significant geographic distance between the merging parties’ cement plants, the Commission asserted jurisdiction over the Transaction on the basis that the parties carry on their business activities in more than two COMESA Member States.

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