RE:South Africa Approves Merger of CP Spruce and VantiveMerger approval was also granted (late last year) by the European Union, Turkey, Brazil, Israel, Ukraine, Malawi, Morocco and the Seychelles.
gebremeskel wrote: https://www.comptrib.co.za/info-library/case-press-releases/merger-alert-outcome-of-mergers-decided-by-the-tribunal-21-january-2025 Merger Alert: Outcome of mergers decided by the Tribunal - 21 January 2025
The Competition Tribunal (“Tribunal”) has conditionally approved the proposed merger wherein CP Spruce Holdings S.C SP (“CP Spruce”) intends to acquire sole control over Baxter International Inc’s kidney care segment known as Vantive (“Vantive”). The proposed transaction has been notified in several jurisdictions worldwide.
The Tribunal has approved the proposed transaction subject to conditions which seek to address concerns regarding the continuity of product supply and pricing.
CP Spruce, a special limited partnership specifically incorporated for purposes of the proposed transaction, is incorporated in accordance with the laws of Luxembourg. The acquiring group, a global alternative asset manager, has numerous portfolio companies that have activities in South Africa. However, none of them are involved in the same or similar markets as Vantive.
Vantive is active in the supply of renal replacement therapy (“RRT”) products. RRT products are used to treat patients suffering from End Stage Renal Diseases, the most severe form of kidney failure. The target group neither has any entities incorporated in South Africa, nor does it manufacturer or have any local production activities or facilities in South Africa. It supplies its RRT products to a manufacturer and supplier of hospital and critical care products in Southern Africa.