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Competition Commission orders Mpact to unwind R15.5m Seyfert deal

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Regulator says the company violated the Companies Act as the acquisition eight years ago reduced competition

The Competition Commission has ordered packaging and recycling group Mpact to unwind its 2011 partial acquisition of cardboard box maker Seyfert Corrugated Western Cape, as it reduced competition.

It did not agree with the commission’s ruling and said it would appeal its decision to the Competition Tribunal. The commission said given “the nature of the anti-competitive concerns”, Mpact had to unwind the deal as there was no way to justify it.Although the commission had the power to amend mergers, it said the specifics of this deal could not be remedied, and the only option available was the unwinding of the deal.

 

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