Tribunal gives go-ahead for eSwatini-based forestry merger
The Competition Tribunal has approved a merger between Shiselweni Forestry Company and Peak Timber and Peak Forest Products (PFP).
The tribunal did, however, stipulate conditions related to the sawn and untreated mining timber, final product mining timber, untreated transmission poles, building and fencing poles, treated building and fencing poles and pulp and saw logs markets.
Shiselweni is a forestry company located in eSwatini. Its plantations include wattle, eucalyptus and pine. It is wholly owned by TWK Investments, a company incorporated in South Africa.
TWK Investments is, in turn, controlled by TWK Agriculture Holdings, which focuses on supplying agricultural and related services.
Of relevance to this transaction are TWK’s activities relating to the supply of treated and untreated transmission poles, building and fencing poles, mining timber logs, pulp logs and woodchips.
Peak Timber is a firm incorporated in South Africa, while PFP is incorporated in eSwatini.
Peak Timber is involved in planting, harvesting, processing and selling timber and timber-related products.
PFP is involved in sawmilling operations.
Both firms have their principal place of business in eSwatini and neither have assets in South Africa.
From their plantations they supply untreated transmission poles, untreated building and fencing poles, untreated mining timber logs (not sawn), pulp logs and woodchips to customers in South Africa.
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