CA says it determined through the analysis of the facts of the merger, that the proposed transaction is not likely to result in a substantial lessening of competition, nor endanger the continuity of service in the relevant market in Botswana.
However, the authority says the assessment of the merger and the information received from the relevant stakeholders indicates that there are pending issues which may impede on employment as well as remunerations of employee and therefore have a negative effect on public interest matters in Botswana as per the provisions of section 52(2) of the Competition Act 2018.
Pursuant to the provision of section 53 of the Act, the Authority has approved the proposed acquisition subject to the following conditions:
There shall be no merger specific retrenchments or redundancies that may affect the employees of the merged enterprises. For clarity, merger specific retrenchments or redundancies do not include (the list is not exhaustive):
voluntary retrenchment and/or voluntary separation arrangements;
voluntary early retirement packages;
unreasonable refusals to be redeployed;
resignations or retirements in the ordinary course of business; v. retrenchments lawfully effected for operational requirements unrelated to the Merger; and
terminations in the ordinary course of business, including but not limited to, dismissals as a result of misconduct or poor performance;
The merged enterprise shall provide details (Full Name; Identification Number; Gender; Position; and Contact Number) of all the employees of the target within thirty (30) days of the Approval date;
The merged enterprise shall share a copy of the conditions of approval to Botswana Mine Workers Union within ten (10) days of the Approval date;
The merged enterprise shall for a period of three (3) years from the merger decision date, submit a report on each anniversary of the merger decision date, detailing its compliance with the conditions of approval;
The merged enterprise shall inform the Authority of the date of implementation within thirty (30) days of the Approval date; and
Any person who has reasonable ground(s), suspicion(s) and/or believes that the merged enterprise has failed to comply with any of the conditions of approval may approach the Authority with his/her complaint.