The Competition Commission has unconditionally approved the acquisition of a majority stake in Sunrise Energy (Pty) Ltd (Sunrise) by MOGS (Pty) Ltd (MOGS).
MOGS, a subsidiary of Royal Bafokeng Holdings (Pty) Ltd, provides safety props, pipeline services, electrical supplies and services, geological and environment services, mining machinery, drilling services and crude oil blending and storage to the mining, oil and gas industries.
Sunrise was established to develop, construct and operate a liquid petroleum gas (LPG) import terminal in Saldanha Bay in the Western Cape.
The Commission found that there was no overlap in the activities of the merging parties and concluded that the proposed transaction was unlikely to result in a substantially lessening or prevention of competition in any market. The proposed transaction raised no public interest concerns.