Competition and Consumer Protection Commission, CCPC, says the Board of Commissioners has approved mergers in Mining, hospitality and other economic sectors.
CCPC Senior Public Relations Officer, Mubiana Nalwendo, told RCV News in a statement today that the approvals were made during its 67th Board meeting for the adjudication of cases.
Mr. Nalwendo said the Board also made determinations which include merger involving Mwinilunga Exploration Limited, Tertiary Minerals Limited, and Mwashia Resources Limited where the Board granted unconditional final authorization for the acquisition of 70% shares by Mwinilunga Exploration Limited and 20% shares by Tertiary Minerals Limited in Mwashia Resources Limited.
He said the determination among others indicates that the merger would not result in the substantial reduction of competition in the exploration, mining and processing of minerals markets in Zambia.
Mr. Nalwendo said the Board also determined that the merger would not result in the elimination of a strong competitor, nor would it lead to the creation of a dominant player.
Meanwhile, Mr. Nalwendo said in a case of acquisition of 90 Percent Shares in Taj Pamodzi Hotel by ASB Hospitality of Tata International Singapore Limited, the Board also granted Unconditional Final Authorization to ASB Hospitality a subsidiary of Albwardy Investment of United Arab Emirates (UAE), to acquire 90 percent shares in Taj Pamodzi Hotel PLC.
He said in granting the unconditional authorization, the Board determined that the proposed transaction would not lead to substantial lessening of competition in the identified relevant market, which is the provision of hotel-based hospitality services in Lusaka.
By Margaret Mwanza
