FAIR COMPETITION COMMISSION
NOTIFICATION REGARDING THE INTENTION OF UMUNTHU INVESTMENT COMPANY TO ACQUIRE 27.9 PERCENT OF SHARES IN AE FRUITS FARM & COMPANY 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 Act the FCC has power to investigate, inter, entry info and exit from the FCC has received a merger notification to that Umunthu Investment Company (the acquire) intents to acquire27.9 perecent of the shares in EA Fruits Farm & Company Limited(the target firm)
The acquiring firms is a company incorporated in Mauritius. It is an investment company that engages in provision of risks capital to start-up business
The target firm is the company incorporated in Tanzania. It engages in trading and marketing fresh fruits, potatoes, onions, tomatoes, pineapples, and banana. Vegetables and rice for supply to hotels restaurant and cafes, supermarkets, shops and local vendors
Based on the sale and purchase agreement signed by merging parties the acquiring firms is proposing to acquire 27.9 percent of shares in the target firms
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. O. Box 7883,
Dar es Salaam
Tel: 255 22 2926128/29/30/30 Fax: +255 22 2926126
Source Daily News 13 February 2020
