CTC launches probe into Profeeds acquisition

THE Competition and Tariff Commission (CTC) has launched an investigation into the proposed acquisition of Profeeds Private (Pvt) Limited and Produtrade Pvt Limited by Ashram Investments Pvt Limited. 

CTC is a statutory body mandated to ensure a level playing field in the market and guards against connivance by companies to the disadvantage of others or consumers as well as creation of monopolies.

The competition watchdog noted in a statement that the investigation comes after the commission received a merger notification from the concerned parties. 

“It is hereby notified, that the CTC, after receiving a merger notification in terms of section 34A of the Competition Act [Chapter 14: 28] on the proposed acquisition of Profeeds Pvt Limited and Produtrade Pvt Limited by Ashram Investments Pvt Limited, intends to investigate the merger in terms of section 28 of the Act,” said the Commission.

It said it will examine whether the merger will lessen competition in the country or will result in the creation of a monopolistic situation, which is contrary to public interest. 

The commission said interested stakeholders, including competitors, suppliers and customers should submit their written representations regarding the proposed merger at the Commission’s offices in Harare “no later than 14 June 2019”. 

Profeeds is a manufacturer of broiler, layer, beef, dairy, horse, pig, fish, goat, rabbit, duck and dog feed while Produtrade is a brokers company. 

Ashram Investments is one of the leading investment firms and has been at the forefront growing businesses and joint ventures. – @queentauruszw