Important Ruling By Competition Commission

Sportingpost.co.za reports that the Competition Commission have approved the acquisition of Gold Circle in the Western Cape by Phumelela Gaming and Leisure.

No specific details are available as yet.

The competition tribunal recently heard a review application by Kenilworth Racing and the Thoroughbred Horseracing Trust for the approval of their acquisition of Gold Circle’s Western Cape business.

The Competition Commission, after investigating the transaction, found that Phumelela was behind the transaction and approving it would have entrenched the listed group’s dominance in the horse racing administration and gaming industry. It subsequently prohibited it.

The merging parties denied that Phumelela would be controlling the business, saying it would merely be responsible for its administration.