According to the regulator, the transaction is unlikely to result in substantial prevention or lessening of competition in any relevant markets.
The Competition Commission of South Africa has unconditionally approved the proposed transaction whereby Q-Sol intends to acquire certain businesses conducted by Sanofi Industries South Africa (SISA’) and Sanofi-Aventis South Africa (SASA).
The primary acquiring firm is ultimately majority owned and controlled by HDPs. Q -Sol and all the firms controlling it and all firms controlled by these firms will be referred to as the “Acquiring Group”. The Acquiring Group is a pharmaceutical intellectual property and brand owner and a manufacturer of liquids; creams; ointments; and sterile products for supply to the public and private health sectors in South Africa.
SISA and SASA are wholly owned subsidiaries of Sanofi, a société anonyme incorporated under the laws of France (“Sanofi”). The Target Business is comprised of a pharmaceuticals manufacturing facility; the inventory, intellectual property and tenders related to the pharmaceutical drugs Phenergan (an antihistamine) and Winthrop Isoniazid (used to treat tuberculosis) in South Africa.
The Commission found that the proposed transaction is unlikely to result in substantial prevention or lessening of competition in any relevant markets. The Commission further found that the proposed transaction does not raise substantial public interest concerns.
Source: Compcom.co.za
