Commission recommends Tribunal approve Seriti’s buyout of South32’s South African coal assets

The Competition Commission has recommended that the Competition Tribunal (Tribunal) approve the proposed transaction whereby Thabong Coal, a subsidiary of Seriti Resources, intends to acquire South32 South Africa Coal Holdings (SAEC) with conditions.
 
The commission has determined that, post-merger, Seriti will be the largest coal supplier to power utility Eskom, with a market share upwards of 30%.