The Competition Tribunal approved the merger between Wal-Mart Stores Inc. of the United States (“Walmart”) and South African retailer Massmart Holdings Limited (“Massmart”), on 31 May 2011, subject to conditions. Because the undertakings are made as conditions for the approval of the merger they are enforceable. The Competition Tribunal indicated that the companies must uphold existing labour agreements for three years, ensure that no jobs are cut for two years and added that it accepted the condition proposed by the merging companies to set up a R100 million supplier development fund.
It is in the light of the abovementioned, the Portfolio Committee on Economic Development is calling on all interested persons to make submissions. Submissions may cover the likely impact of the merger, particularly on employment, industrial development, local manufacturing and economic development; as well as comment on the conditions imposed by the Competition Tribunal.
Comments can be emailed to the Committee Secretary Mr Arico Kotze at akotze@parliament.gov.za by Friday 15 July 2011. Please indicate your interest in making an oral presentation.
Enquiries tel Mr Arico Kotze: (021) 403 3662 or cell: 083 709 8470
