CAPE TOWN - The Competition Commission has announced the approval of Isuzu Motors SA's intention to acquire Isuzu Light Commercial Vehicle business from General Motors South Africa.
The Commission on Monday confirmed that the transaction was unlikely to raise any competition concerns in any market. The Commission has further said that the merger raises public interest concerns over employment.
However, the Commission has imposed a condition that a total of 927 GMSA employees be transferred to IMSA and that IMSA should look at appointing certain dealerships to its dealership network after the merger.
Isuzu, a motor vehicle manufacturer, specialises in light commercial vehicles, commercial vehicles and diesel engines. The pending purchase of GMSA's LCV Business, involves importing kits for knock-down parts into South Africa for Isuzu LCV's.
In August, Isuzu South Africa announced a number of key leadership appointments in line with its purchase of the Isuzu related assets from GMSA.
The appointments included that of Chairman, Haruyasu Tanishige; Chief Executive Officer and Managing Director, Michael Sacke; Executive Vice President for strategy and business planning, Hiroaki Sugawara; Executive Officer Sales, Service and Marketing, Craig Uren and Group CFO, Mitsuteru Yageta.
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