Drum manufacturers lobby Competition Tribunal
Greif and Rheem are set to propose remedies to address antitrust concerns
A Dutch steel drum manufacturer and its South African counterpart, which have been trying unsuccessfully to merge over the past 14 years, will finally argue their case before the Competition Tribunal on Friday. The two want the Competition Tribunal to reconsider a decision by the Competition Commission, which prohibited their proposed merger. Greif International and Rheem SA will now make proposals to address a number of concerns that the Competition Commission raised about the deal’s anticompetitive effect. As an adjudicative body, the tribunal may review the commission’s decisions. The two companies were not available for comment on Thursday to elaborate on their proposals. The tribunal hearings follow the commission’s decision in June last year to block – for the second time – the transaction between the two companies. The antitrust body first prohibited the deal, which involved Greif acquiring control of Rheem, in 2004. Greif, a Dutch company, manufactures and supplies indust...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.