Commission grants approval for England-based Prax to acquire Natref
The Competition Commission has conditionally approved a proposed transaction between Prax South Africa and the National Petroleum Refiners of South Africa (Natref), whereby the former intends to acquire the latter.
Prax is ultimately controlled by a firm incorporated in England called State Oil Limited, which is, in turn, controlled by Prax Group Holdings, which is also based in England.
Prax is involved in the production, supply, storage, refining and distribution of crude oil, petroleum products and biofuels in the UK, with the acquisition of Natref marking its first operation in South Africa.
Natref is jointly controlled by Sasol and TotalEnergies Marketing South Africa and is also involved in the refining of petroleum feedstock to finished and unfinished petroleum and petrochemical products. It owns a 108 500 bl/d refinery in Sasolburg.
The processed products are typically handed back to Sasol and TotalEnergies and, as such, Natref does not own the products or deal with customers.
The commission requires that Prax conclude a substantial transaction with historically disadvantaged persons following the merger implementation date.
Prax views the acquisition of Natref as its entrance into the South African market and a next step in its international growth strategy.
Prax has already committed a significant amount of capital expenditure to support Natref’s operational requirements over a period of at least five years. It also plans to improve the refinery’s competitive position through future strategic investment.
Comments
Research Reports
Projects
Showroom
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
