The Competition Tribunal has unconditionally approved the large merger whereby the Strategic Fuel Fund (SFF) intends to acquire an interest in the assets of bp Southern Africa’s (bpSA’s) Cape Town Terminal.
Upon the implementation of the proposed transaction, SFF and bpSA will have joint control of the terminal.
The SFF’s main activity is the storage and management of South Africa’s strategic crude oil stockpile, as well as privately-owned stocks of crude oil.
Accordingly, the SFF operates various facilities for the storage of crude oil.
bpSA produces a range of petroleum products including diesel, petrol, illuminating paraffin, liquefied petroleum gas, bitumen, fuel oil and jet fuel, which are ultimately sold to retail and commercial and industrial customers in South Africa.
The Cape Town Terminal is used for offloading petrol, diesel, jet fuel and paraffin (kerosene) from vessels and through cross pumps.