The Competition Tribunal has unconditionally approved the Motus Group’s acquisition of the North Motor Group’s Kia Bryanston and Honda Sandton motor dealerships.
The Tribunal has concluded that the transaction does not substantially prevent or lessen competition in any relevant market.
Further, the merging parties made an unequivocal undertaking that there shall be no retrenchments as a result of the transaction and that the employees of the dealerships will be transferred to Motus Group in line with the Labour Relations Act.
The transaction does not raise any other public interest concerns, says the Tribunal.
Motus Holdings and its subsidiaries are active in the import and distribution of motor vehicles; retail and rental of motor vehicles; motor-related financial services; and the sale of original equipment manufacturer spare parts and aftermarket parts.
The acquired dealerships are active in, among others, the sale of new and used Kia and Honda passenger vehicles and Kia light commercial vehicles, as well as the supply of scheduled maintenance and after-sale services and parts.