The Competition Tribunal has conditionally approved a merger whereby Unitrans Automotive, wholly-owned by Steinhoff International Holdings, acquires Action Ford's vehicle dealership business.
The merging parties have given an undertaking that there will be no retrenchments for a period of two years from the implementation date of the deal.
Unitrans Automotive controls a number of entities and is active in the sale of new and pre-owned vehicles, parts and accessories and the provision of after-market service.
In addition, Unitrans Automotive also assists customers with acquiring consumer credit, insurance products, fleet management services and car rental services. Its dealerships comprise numerous vehicle brands including Ford.
Action Ford operates five Ford vehicle dealerships located in Gauteng, North-West and the Western Cape. Action Ford only retails Ford vehicles.
It sells new and pre-owned vehicles and operates service and parts departments.
It also acts as an intermediary by offering customers access to financial services related to the purchase of vehicles.