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Bidvest Bank and Fulcrum merger gets the nod

Cape Town - The Competition Commission has recommended to the Competition Tribunal that the proposed merger between Bidvest Bank and Fulcrum Group be approved.

"The Commission found that the proposed transaction is unlikely to substantially prevent or lessen competition in any market," it said in a statement on Monday.

In addition, it said the vertical overlap between the merging parties is unlikely to result in any foreclosure concerns.

"The proposed transaction does not raise any public interest concerns."

The Bidvest group is involved in the automotive, electrical, financial services, freight, commercial products, office and print and services industry.

Fulcrum provides premium handling services, including debit order collections and premium disbursements.

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