Tribunal gives green light to British American Tobacco, Twisp merger
The Competition Tribunal announced on Tuesday that it had conditionally approved the acquisition of South African e-cigarette seller, Twisp, by international cigarette giant, British American Tobacco.
BATSA and Twisp will not be allowed to "retrench any employees in contemplation of the merger or as a result of the merger for a period of two years from the date on which the transaction is implemented", said the Tribunal in a statement on Tuesday.
The conditions also stipulate that the merging parties must not enter into agreements with retailers, requiring or incentivising them to not to rent retail space to competitors, or not sell the products of competitors.
The parties must also not require or incentivise retailers to prohibit competitors from selling, displaying or promoting their goods.
The competition commission is a statutory body that investigates uncompetitive behaviour, while the tribunal adjudicates cases and hears appeals. The conditions will be applicable for a period of five years.