JSE-listed pulp and paper producer Mondi has acquired the Draycott and Greytown timber plantations, in KwaZulu-Natal, from World Hardwood.
The Competition Tribunal on Thursday approved the transaction, after the Competition Commission determined that it was unlikely to substantially prevent or lessen competition in any market.
The relevant market in this merger was for the production and supply of hardwood pulp and untreated hardwood poles in KwaZulu-Natal in a 250 km radius from the two plantations, as well as the national market for the production of hardwood pulp and treated telephone, transmission, fencing and building poles.
In addition, the proposed transaction does not raise any public interest concerns, the commission said.