Dennis Service Station Acquisition Unconditionally Approved

The Competition Authority has approved without any conditions the acquisition of an additional 50% of the issued shares in Dennis Service Station (1976) (Pty) Ltd by Gavin Blackbeard from Raymond Barnwell Watson. 

Announcing its decision on 25th January 2019, the Authority said it determined through an analysis of the facts, that the proposed transaction is not likely to result in the prevention or substantial lessening of competition, or endanger the continuity of the services offered in the market under consideration. Furthermore, no negative public interest concerns have been identified. 

The purchaser is a Motswana and shareholder in the target enterprise, Dennis Service Station. Besides his shareholding in Dennis Service Station, Gavin Blackbeard has no other direct or indirect business interest in the relevant market in, into and from Botswana.  Raymond Barnwell Watson, the seller, is a Motswana and owns 50% of the issued shares in Dennis Service Station. 

Dennis Service Station, which operates from Serowe, is a Toyota franchisee and provides Toyota products and service such as sale of motor vehicles, automotive fuels and lubricants; service and repair of motor vehicles; used vehicle sales; and as a Caltex dealer, the target enterprise sells petroleum products and lubricants. 

“As stated under section 66 of the Competition Act, the approval does not override or negate any other mandatory statutory approvals or processes that any of the parties to this merger must comply with under the Laws of Botswana,” the Authority stated.