ZANZIBAR FAIR COMPETITION COMMISSION
IN THE MATTER OF THE MERGER NOTIFICATION IN RELATION TO INDIRECT
ACQUISITION OF SHARES AT ZANEA SEAWEED CO LIMITED ZANZIBAR (TARGET FIRM)
BY
TATE & LYLE PLC (APPLICANT)
PUBLIC NOTICE OF THE ZANZIBAR FAIR COMPETITION COMMISSION
(Made under Section 5(1), 49 and 50 of the Fair Competition and Consumer Protection Act
No. 5 of 2018 and Regulation 48 of the Fair Competition Regulation 2019)
The Zanzibar Fair Competition Commission (ZFCC) is an Independent Government Institution established under the Fair Competition and Consumer Protection Act, No.5 of 2018 to promote and protect fair and effective Competition in trade and to protect consumers from misleading market conduct.
The Act empowers the Zanzibar Fair Competition Commission (ZFCC) to review, investigate and prohibit any proposed mergers and acquisitions that contravene the stipulations of sections 49 of the Zanzibar Fair Competition and Consumer Protection Act No. 5 of 2018.
Conferring to Section 50 of the Fair Competition and Consumer Protection Act No.5 of 2018 read together with Regulation 32 of the Fair Competition Regulation 2018, ZFCC has received merger notifications to the effect that Tate & Lyle Plc (Acquiring firms) intends to acquire indirectly 66% shares of Zanea Seaweed Company Limited (Target Firm).
Tate & Lyle Plc is a company incorporated in England and Wales, the firm is a global supplier and manufacturer of ingredient solution to food or beverages and its registered office at 5 Marble Arch, London, United Kingdom
Zanea Seaweed Company Limited, a private company limited by shares and incorporated under the laws of Zanzibar, its diels with sourcing seaweeds from local farmers and its office is located at Malindi, Urban West Region, Unguja, Zanzibar.
The Acquiring Firm and Target Firm are collectively referred to as the “Merging Parties”
Based on Share Purchase Agreement (SPA) entered between The Parties agreed to take control of 66% of shares at Zanea Seaweed Company Limited subject to the terms and conditions of the agreement.
ZFCC is currently investigating the intended acquisitions in line with the provisions of the Fair Competition and Consumer Protection Act No. 5 of 2018 and the Fair Competition Regulations, 2019. Pursuant to Regulation 48 of the Fair Competition Regulation 2019, parties (both legal and natural) who deem themselves as having sufficient interest in this merger, or, if the merger is not objected to, they will have or are likely to have material effect on their interests, are hereby, NOTIFIED to Director General their interests and or objections (if any) or file any information that will assist the ZFCC in reaching just and reasonable decisions with regard to Acquiring Firm’s notification of the intended merger.
All such parties shall file and register such interest(s) or information by way of written submissions to the ZFCC within Fourteen (14) days, starting from the first day of publication of this public notice. Submissions filed after the said deadline shall not be accepted.
Registration of the said interests/objections or information should be accompanied by a duly filled Form ZFCC No. 10 of the Fair Competition Commission Regulations, 2019.Failure to fill in Form ZFCC. No 10 will deny a party the right to make any oral submissions before the Commission and the presence of that party in the proceedings will be as an observer only.
Parties should take note that pursuant to Regulation 10 (4) of the Fair Competition Regulation, 2019 as applied to this Public Notice, ZFCC shall not entertain a subject of the petition where: (a) it does not fall under Act or Regulation (b) it has no material effect on competition; and (c) the same in whole or in part is before any court, tribunal, arbitration, judicial or quasi – judicial body or was previously determined by any court, tribunal, arbitration, judicial or quasi-judicial body.
Form (ZFCC NO 10) can be collected at ZFCC office.
Submissions must be submitted to the ZFCC at the address below.
DIRECTOR GENERAL,
The Zanzibar Fair Competition Commission.
Darajani,
P.O. Box 1066,
Telephone No: 0242232013,
E-mail: [email protected],
Zanzibar.
