News and Media

Merger Filing Fees – Amendment to Rule 10(5) of the Competition Commission Rules

7 December 2018|In Competition Briefs eBriefs News and Media NortonsInc Uncategorized

Merger Filing Fees – Amendment to Rule 10(5) of the Competition Commission Rules

On 4 December 2018, the Department of Economic Development promulgated an amendment to the filing fees applicable to intermediate and large mergers, effective 1 January 2019.  These amended filing fees, compared with those currently in force, are set out below:

Current – until 31 December 2018

Effective 1 January 2019

Intermediate Merger

ZAR 150 000.00

ZAR 165 000.00

Large Merger

ZAR 500 000.00

ZAR 550 000.00

Source: Government Gazette No. 42082, Notice 1336 (4 December 2018)

For the sake of completeness, an intermediate merger is one where the value of the proposed merger equals or exceeds ZAR 600 million (calculated by either combining the annual turnover of both firms or their assets), and the annual turnover or asset value of the target firm is at least ZAR 100 million.

A large merger is one where the combined annual turnover or assets of both the acquiring and target firms are valued at or above ZAR 6.6 billion, and the annual turnover or asset value of the target firm is at least ZAR 190 million.

Heineken seeks brewers’ pledge on fridge space and ‘dirty tricks’

23 June 2016|In News and Media

Major rival Heineken on Wednesday (22 June 2016) hit SABMiller and Anheuser-Busch InBev (AB InBev) with a slew of conditions it wants the Competition Tribunal to impose on the $108bn merger.

An end to “dirty tricks” and better access to fridge and shelf space topped Heineken’s list of demands.

It was the first intervention by the Dutch brewer. Its lawyer, Anthony Norton, said the merging parties had previously been “dismissive of its concerns”.

View the full article here: http://www.bdlive.co.za/business/retail/2016/06/23/heineken-seeks-brewers-pledge-on-fridge-space-and-dirty-tricks

Nortons Inc. hosts the first ICC FraudNet Conference on Fraud, Asset Recovery & Cross-Border Cooperation

26 March 2015|In News and Media Nortons Inc News NortonsInc

ICC FraudNet Conference on Fraud, Asset Recovery & Cross-Border Cooperation

  • HOW CAN THE REPUTATION AND REALITY OF CORRUPTION IN AFRICA BE REVERSED?
  • HOW CAN FRAUDSTERS BE PREVENTED FROM USING THE GLOBAL FINANCIAL SYSTEM TO STEAL BY STEALTH AND HIDE THEIR LOOT?
  • INTERNATIONAL EXPERTS PLACE A SPOTLIGHT ON FINANCIAL FRAUD ON THE AFRICAN CONTINENT

CAPE TOWN, South Africa – 26 March 2015

Experts who have tracked down assets stolen in some of the world’s largest frauds, are gathering in Stellenbosch from 25 March to 27 March to put the spotlight on the state of financial crime and asset recovery on the African continent.  The International Chamber of Commerce (ICC) through its Commercial Crimes Division, FraudNet, together with South African law firm Nortons Incorporated, is co-sponsoring this first “ICC FraudNet Conference” ever to be held on the African continent.  Nortons’ leaders in the field, together with other experts from the world’s leading asset recovery legal network, ICC FraudNet, will apply their collective African and international expertise to the following subjects:

  • Fraud and Corruption in Africa
  • A Regional Perspective: Tackling Fraud, Bribery & Corruption in Africa
  • Coordinating International Asset Recovery: Practical Approaches and Case Studies
  • Asset Recovery in Grand Corruption Cases: Approaches, Challenges and Case Studies

Nortons Incorporated is inviting its clients and members of the media to attend this conference which will be held in English and which will feature various well-known CEOs, such as the CEO of the South African Chamber of Commerce and Industry and Corruption Watch, along with anti-corruption officials from Kenya and Nigeria, and FraudNet asset recovery lawyers from South Africa, Nigeria, Angola, Mauritius, and France, Switzerland, Canada and the United States.

About Fraudnet

FraudNet is an international network of independent lawyers who are the leading civil asset recovery specialists in each country. FraudNet’s membership extends to every continent and the world’s major economies, as well as leading offshore wealth havens that have complex bank secrecy laws and institutions where the proceeds of fraud often are hidden. Founded in 2004 by the Paris-based International Chamber of Commerce (ICC), the world’s business organization, FraudNet operates under the auspices of the ICC’s London-based Commercial Crime Services unit. Fraudnet has once once again been ranked as a “Fraud Leading Legal Networks”, Band 1 by Chambers and Global.

Nortons Inc. is a boutique services firm specialising in all aspects of regulatory law, such as competition law, consumer protection, forensic auditing, white collar crime and fraud.  The firm represents a number of high-profile, multinational corporations with Anglo American, Apple, Aspen Pharmaceuticals, BP, Caxton, Scaw Metals, Absa Bank, De Beers, Pick ‘n Pay, Kumba Iron Ore, Netcare, Puma Energy, Tsogo Sun, Daimler, Imperial, Google, Merck & Co, Times Media Limited, PepsiCo, Sasol and Warner Bros. Entertainment being just some of the household names on the firm’s list of clients.

Nortons Inc. appoints Shane Lane as its Head of Forensic Auditing

16 January 2015|In News and Media Nortons Inc News

Nortons Inc. is pleased to announce that we have appointed Shane Lane as Head of Forensic Auditing and investigations, with effect from 1 January 2015. Shane was previously the Head of Forensic Auditing at Alchemy Consulting (Pty) Ltd from 2006 to 2014. Shane obtained his B.Com degree at the University of Natal, and his qualifications include post-graduate qualifications from the Institute of Accounting Technology, Chartered Institute of Management and Management Development Centre.

Almost all businesses in South Africa today are exposed to the risk of white-collar crime industry fraud and/or theft. Shane has assisted various companies in South Africa and abroad with forensic auditing, investigations, prosecution and asset recovery. His experience extends across sectors such as mining, manufacturing, retail, financial services, construction, agriculture and forestry.

Shane’s specialities include:

  • Forensic Auditing:
    • An holistic approach to all aspects of suspected fraud or malpractice audits, investigations, insurance claims and cyber-crimes;
    • The provision of detailed evidence files for disciplinary hearings and ultimately criminal or civil prosecutions;
    • The formulation of insurance claims;
    • Provision of expert testimony and evidence in disciplinary proceedings, criminal and civil courts;
    • Asset recovery;
    • Provision of a proactive, comprehensive internal control report on weaknesses in financial, accounting and operational controls including bookkeeping, tax consulting and payroll;
    • Provision of fraud registers policies and procedures; and
    • Fraud prevention training.
  • Consulting:
    • Implementation of internal control procedures;
    • Implementation of fraud policies and procedures; and
    • Routine internal audits.

At Nortons Inc., we are able to offer clients an integrated, one stop forensic legal and audit service, which is a multi-disciplinary approach to forensic services. We believe that it is costly and inefficient to retain separate legal and auditing services in forensic investigations and are able to offer an in-house integrated offering.

In the event that you require forensic services, please contact Shane at Shane@nortonsinc.com or +27 11 666 7573 or Anthony at Anthony@nortonsinc.com or +27 11 666 7561.

Surprise search and seizure visit at Unilever and Sime Darby in South Africa

3 April 2014|In News and Media

The South African Competition Commission (“Commission”) has confirmed that it has conducted such a dawn raid operation at Unilever South Africa (Pty Ltd) (“Unilever”) and Sime Darby’s respective South African offices during the morning of 03 April 2014.
Unilever is one of the largest fast moving consumer goods companies in South Africa. Unilever’s business activities include laundry, skincare and cleansing, margarine, deodorants, household care, tea, hair care and ice cream. Household names which form part of the Unilever group include Sunlight, Knorr, Lipton, Ola and Omo.

Sime Darby is a Malaysia-based multinational company involved in sectors such as plantation, industrial equipment, motors, property and energy & utilities, with operations in more than twenty countries. Its South African operation, namely Sime Darby Hudson & Knight (Pty) Ltd, is located in Boksburg and it produces and sells premium fats and oils to bakery, food service industry and food manufacturers predominantly in South Africa.

The Commission has indicated that this raid forms part of an ongoing investigation into collusive conduct in the product markets for the manufacture and supply of edible oils and baking fats to both wholesale and retail customers. The Commission has further indicated that it has reasonable grounds to believe that employees of Unilever and Sime Darby have information which is relevant to the investigation.

The last dawn raid was conducted on 06 May 2010 at the premises of four electrical cables manufacturers and suppliers based in Gauteng, South Africa. The various premises were searched by the Commission on suspicions of price fixing, market allocation and collusive tendering. This was done subsequent to a complaint initiated by the Commissioner on 16 March 2010 against Aberdare Cables (Pty) Ltd, Alvern Cables (Pty) Ltd, South Ocean Electric Wire Company (Pty) Ltd and Tulisa Cables (Pty) Ltd.

Sections 46 to 49A of the South African Competition Act of 1998 (“Competition Act”) empowers the Commission to conduct surprise search and seizure visits and to carry out so-called “dawn raids” to a firm’s business premises in order to inspect documents and interview staff where an infringement of competition law is suspected.

The Commission is empowered to enter any such premises when a judge or a magistrate has issued a warrant. Although a warrant is usually an essential requirement to ensure that a dawn raid is conducted in accordance with the law, the Competition Commission does have the power to enter and search a premises without a warrant, in exceptional circumstances.

If the Commission has reason to believe that a firm is in contravention of provisions of the Competition Act, or is in possession of information relating to a matter that is under investigation, the Commission’s investigators have the authority to enter into the firm’s premises in order to inspect and request copies of documents, ask for information in relation to any documents, take notes and interrogate employees, search and examine computer data and remove evidence from the premises. In particular, officials may examine files, reports and emails. The Competition Commission is entitled to confiscate computer hard drives. They may also take copies of documents.

Government targets MultiChoice 18/09/13

18 September 2013|In News and Media

MultiChoice's monopoly over sports rights and premium content is in government's sights with Minister of Communications Yunus Carrim announcing that a discussion document on this issue will be released by the end of November, notes a City Press report.

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