FAIR COMPETITION COMMISSION
NOTIFICATION REGARDING THE INTENTION OF AGA KHAN FUND FOR ECONOMIC DEVELOPMENT S.A TO INDIRECTLY ACQUIRE TANRUSS INVESTMENT LIMITED THROUGH ACQUISITION OF SHARE IN TPS (D) LIMITED
PUBLIC NOTICE
Made under Section 65(2) (g) of the fair competition Act No. 8 of 2003 and Rules 41 (6), 42(5) AND 49 OF THE Competition Rules 2018)
The Fair Competition Commission is an independent statutory body established under section 62 of The Fair Competition Commission Act No. 8 of 2003 with the enhancing the welfare of the people of Tanzania by promoting and protecting effective competitive in markets and preventing unfair and misleading market conduct throughout Mainland Tanzania
Under the same Act the FCC has power to investigate, inter, entry info and exit from the FCC has received a merger notification to that Aga Kahn Fund for Economic Development( the Acquiring Firm) intends to indirectly control Tanruss Investment Limited( the Target Firm) through acquisition of shares in TPS(D) Limited
The acquiring firms is a company incorporate under the law Switzerland. It opened in Tanzania Thought various subsidiaries, scattered in different sector including provision of health care services, tourism, telecommunication and broadcasting, insurances and manufacturing industries
Target firms is a company incorporated in Tanzania. Its operates in Dar es Salaam Serena Hotel a five star 230 rooms hotel located in Dar es Salaam. It is wholly owned by TPSC Company, a company that is wholly owned by TPS (D) Limited
Based on the sale and purchase agreement signed by merging parties the acquire firms is proposing to acquire 48.954 percent of shares in TPS (D) that will give the acquiring firms indirect control of Tanruss Investment Limited
FCC is current investigate the intended acquisition in line with the provision of the Fair Competition Commission Act and Competition Rules 2018
Pursuant to rule 49 read together with rule 41(6) of the competition rules 2018 parties both legal and natural petitioners who deem themselves as having sufficient interest in this merger or if the merger is not objected to, it will have or is likely to have material effect on their interested are inviting to submit their interest, objection or information petition. The petitioners are hereby NOTIFIED to submit their petitions with a view to assist the commission in reaching just and reasonable decision with regard to the intended merger
All such petitioners shall NOTIFY he commission by way of written submission to the FCC within 14 DAYS FROM THE FIRST DAY OF PUBLICATION OF THIS Public notice. No submission fled after the said deadline shall be accepted
Submission of the petition should be accompanied by a duty filled in form FCC 10 (Notice of intention to participate found in the first schedule of the competition Rules 2018). Failure to fill-in form FCC will deny such petitioner the right to make any oral submission before the commission and their status in the proceedings shall be deemed to be that of an observer only
Petitioners should take note that pursuant to rule 10(5) of the competition rules, 2018 as applied to this public notice the commission shall not entertain a subject matter of the petition where (a) it does not fall under FCA (b) it has not material effect on competition and (c) the same in whole or in part is before any court, tribunal, arbitration, Judiciary or quasi-judiciary body
Submission must be submitted to the FCC at the address below
Director General,
Fair Competition Commission,
GEPF House, 2nd Floor Plot No. 37 Regent Estate
Bagamoyo Road,
P.. Box 7883,
Dar es Salaam
Tel: 255 22 2926128/29/30/30 Fax: +255 22 2926126
Source Daily News 3rd February 2020
