The Competition Commission’s Yolande Okharedia told a tribunal hearing yesterday that AEEI intended to acquire 100 percent of the issued shares of SGT. Okharedia said the activities of SGT included radio transmission services, power technologies and customer solutions used, among others, in military applications.
She said in considering the proposed merger, the commission concluded that the transaction did not result in a horizontal or vertical overlap and was unlikely to substantially prevent or lessen competition or raise any other public concerns.
Okharedia added that the employer representatives of the merging parties were notified about the transaction and confirmed in writing that the translation would not result in any job losses or have any negative impact on employment.
She said the commission therefore recommended the proposed transaction be approved without conditions.