S. Africa Issues Record Fine For Lack Of Merger Notice

Law360, New York (November 11, 2010, 3:51 PM EST) -- South Africa's competition court has approved the country's highest-ever penalty for companies failing to alert national regulators to their merger plans, issuing a 1.1 million rand ($159,000) fine against two construction companies.

The country's Competition Tribunal signed off on the settlement between South Africa's Competition Commission and WBHO Construction (Pty) Ltd. and Edwin Construction (Pty) Ltd. on Wednesday for not notifying the agency of their 2005 merger.

Under the terms of the deal, the companies also admitted their conduct, agreed to pay the fine and promised...
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