Murray & Roberts, Cementation merger approved

Posted On Wednesday, 19 May 2004 02:00 Published by Commercial Property News
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The Competition Tribunal has unconditionally approved the merger between construction group Murray Roberts Limited (MUR) and the Cementation Company

Construction IndustryThe Competition Tribunal has unconditionally approved the merger between construction group Murray Roberts Limited (MUR) and the Cementation Company(Africa) Ltd. The reasons for the decision will be released in due course, it said in a statement.

The transaction involves Murray & Roberts acquiring control of Skanska AB's mining contract business located in South Africa, Cementation. Skanska AB is a Swedish company, which controls and holds 79.13% of the issued share capital of Cementation. The transaction will result in M&R controlling Cementation.

Skanska's rationale is that the businesses in South Africa, Canada and Australia do not form part of its strategic areas of business whereas M&R wishes to obtain global coverage and certain of Cementation's services to compliment the package of services provided by M&R.

Both M&R (through its division RUC) and Cementation broadly compete with each other in providing, on a tender basis, raise drilling and mining services to the mining industry. Master Drilling is the only other player and competition concerns were raised that this transaction would reduce the players in this market to two.

Various players were subpoenaed to testify before the Tribunal.

 

Last modified on Tuesday, 22 October 2013 15:54

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