The Competition Tribunal on Wednesday confirmed the settlement agreement reached between construction group Wilson Bayly Holmes – Ovcon (WBHO) Construction and the Competition Commission, which stipulated that WBHO would pay R10.2-million as a penalty for contravening the Competition Act.

In the settlement agreement between WBHO and the Competition Commission, the construction company admitted that it contravened the Act by engaging in collusive tendering in respect of a 2006 tender issued by State-owned rail operator Transnet.

The Competition Tribunal, also on Wednesday, approved the acquisition of interest in the Westgate Shopping Centre by Government Employees Pension Fund loan stock company Pareto, following a decision by the Competition Commission that the acquisition was unlikely to substantially lessen competition in the market.

Upon the implementation of this deal, Parento would have complete control of the Westgate Shopping Centre, in Roodepoort.

The Tribunal also approved the acquisition of Land Rover and Jaguar franchised dealer Anycar by international brand distributor Barloworld South Africa.