South Africa: Issued ruling on CCSA investigation into the merger between Basileia Investment Holdings and Porcupine Union

On 4 August 2023, the South Africa Competition Commission (CCSA) issued a ruling regarding its investigation into the merger between Basileia Investment Holdings and Porcupine Union. The CCSA approved the proposed acquisition without conditions. Basileia Investment Holdings is an investment holding and management company based in the UK with investments in European insurance sectors. Porcupine Union offers human resources, marketing, accounting, and IT consulting services. The CCSA concluded that the proposed acquisition would not significantly affect competition in relevant markets.