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Merger Review & Control


Looking to complete a merger and/or acquisition? If yes, then odds are this M&A transaction must be assessed to determine whether merger control filings or foreign investment reviews are required in Canada, South Africa or other jurisdictions, and whether such transactions give rise to any substantive competition law concerns.
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Overview

Looking to complete a merger and/or acquisition? If yes, then odds are this M&A transaction must be assessed to determine whether merger control filings or foreign investment reviews are required in Canada, South Africa or other jurisdictions, and whether such transactions give rise to any substantive competition law concerns. Our Firm’s Competition, Marketing & Foreign Investment (CMFI) group is well-positioned to guide our M&A clients through merger clearance in Canada, including through the Competition Bureau, Competition Tribunal, Transport Canada and through merger clearance in South Africa through the South African Competition Commission and the Competition Tribunal.

In Canada, Our CMFI lawyers are experienced in:

  • Assessing competitive impact of proposed mergers
  • Negotiating and structuring transactions to mitigate and allocate competition law risks
  • Coordinating multi-jurisdictional competition filings and reviews
  • Providing sophisticated advocacy to clear mergers
  • Negotiating favourable remedies and orders
  • Defending mergers through litigation

We regularly advise foreign clients, including state-owned enterprises, on economic and national security reviews under Canada’s foreign investment law, the Investment Canada Act. Our team represents private equity funds, public corporations and private businesses in a wide range of industries. Whenever we act for clients, we help them ensure that their transactions are structured and presented to maximize the likelihood of clearance by competition and foreign investment agencies. This is especially important in cross-border deals where distinct domestic rules and norms apply. To this end, timetables are a crucial component of our work. We organize expert opinions and reports, draft competitive impact submissions and file the necessary applications, as well as coordinate with lawyers in other jurisdictions to meet transaction deadlines and avoid unnecessary delays.

In South Africa, our CMFI team has successfully guided clients through merger control processes across Africa in major transactions in the mining, energy, pharmaceuticals, gas, steel, infant nutrition, liquor, insurance, chemicals, agricultural seeds, crop protection, car parts, and rail transport industries, often working with instructing counsel in Europe and the United States (U.S.). Our South African competition team also has extensive experience advising and guiding clients through merger control processes in other African countries, including Botswana, Namibia, Zambia and the Common Market for Eastern and Southern Africa (COMESA).

For assistance with securing merger clearance on your current and/or future M&A transaction, contact our CMFI team to provide you with timely and pragmatic advice to get the results you are looking for.

Client Work

  • Harmony Energy Limited divests a 60% stake in the 49.5 MW Chapel Farm and the 49 MW Jamesfield Battery Storage Projects to global clean energy enterprise TAG Energy, [Deal - Harmony Energy Limited], Harmony Energy Limited forms joint venture with TAG Energy for the construction of two battery storage projects.
  • Fraser Surrey Docks sold to Macquarie Infrastructure Partners, [Deal - APTL Terminals], On March 21, 2007, Macquarie Infrastructure Partners, a long-term infrastructure investor, announced that it had completed its previously announced acquisition of Fraser Surrey Docks, a container and breakbulk port terminal situated on the main arm of the Fraser River in Vancouver, Canada, from p...
  • Silgan Holdings acquires Cousins-Currie for US$48.3 million, [Deal - Silgan Holdings], On December 21, 2006, Silgan Holdings Inc., a leading supplier of consumer goods packaging products, announced the acquisition of substantially all of the assets of Cousins-Currie Limited, a leading Canadian blow molder of custom designed large-ware plastic bottles. The business, which had sales ...
  • Martinrea International purchases North American body and chassis operations from ThyssenKrupp Budd Company for US$275 million, [Deal - Confidential Client], On November 30, 2006, ThyssenKrupp Budd Company, a wholly-owned subsidiary of ThyssenKrupp AG, completed the sale of its North American automotive body and chassis operations to Martinrea International Inc. The purchase price for the transaction was approximately US$275 million. The operations so...
  • De Beers Canada sells participating interest in diamond joint venture for $180 million, [Deal - De Beers Canada Inc.], On September 28, 2006 Shore Gold Inc. closed the previously announced purchase from De Beers Canada Inc of its interest in the Fort a la Corne Joint Venture. Kensington Resources Ltd., Shore's wholly owned subsidiary, acquired De Beers' 42.245% participating interest in the joint venture for a pu...
  • Hilton Canada sells last five Canadian hotels for US$243 million, [Deal - Hilton Hotels], On September 19, 2006, Hilton Canada Co. completed the sale of its last five Canadian hotels for approximately $243 million. Northstar Hospitality Limited Partnership, a partnership comprised of Cadim Fonds Inc., Westmont Hospitality Group and Régime de rentes du Mouvement Desjardins, purchased t...
  • Bell Globemedia acquires CHUM, [Deal - Confidential Client], On July 12, 2006, Bell Globemedia announced an offer to acquire all of the issued and outstanding common shares and non-voting Class B shares of CHUM at a cash price of $52.50 per common share and C$47.25 per non-voting Class B share. The offer established a $1.7 billion enterprise value for CHUM...
  • Addax Petroleum acquires business of Pan-Ocean Energy for US$1.6 billion, [Deal - Addax Petroleum], On September 7, 2006, Addax Petroleum Corporation announced that it had acquired two subsidiaries of Pan-Ocean Energy Corporation Limited, together representing substantially all of the operations of Pan-Ocean Energy, for $1.605 billion in cash and will assume net debt estimated to be $30 million...
  • Vision Capital acquires businesses of AEA Technology plc for up to £76.4 million, [Deal - Vision Capital], On September 2, 2006, Vision Capital Limited, an independent investment firm headquartered in London, England, completed its acquisition of a portfolio of four businesses from AEA Technology plc for a total consideration of up to £76.4 million. The portfolio of business acquired by Vision Capital...

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