Lawsuit Challenges Approval of Ohorongo Cement Acquisition by Chinese Company
What happened
A South African company based in Gauteng is suing Minister of Industries, Mines and Energy Modestus Amutse regarding the approval of a major corporate merger. The suit challenges Amutse’s decision to allow the acquisition of Ohorongo Cement by a Chinese company. The company argues that Amutse made a mistake when he approved the merger between Whale Rock Cement and Schwenk Namibia, the majority owner of Ohorongo Cement, on October 1.
From namibian.com.na
Why it matters
The plaintiff, which is a major customer of Ohorongo Cement, argues that the approval process was flawed because Amutse claimed no objections had been received. The suing company contends that the merger creates a monopoly and poses risks to employment.
From namibian.com.na
Who's involved
- Ohorongo CementThe target of the proposed acquisition by a Chinese company.
- Modestus AmutseThe minister whose approval of the acquisition is being challenged in court.
- GautengThe province where the plaintiff company is based in South Africa.
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The entities involved
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Ohorongo Cement
cement factory in Namibia
Nothing else this week.
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Gauteng
province in South Africa