South African Competition Commission Approves Crossfin Acquisition of Sybrin Holdings
The Commission noted that the transaction is unlikely to substantially reduce or prevent competition in any market and does not raise significant public interest concerns.
The South African Competition Commission has approved the proposed acquisition of Sybrin Holdings (Pty) Ltd by Crossfin SPV 3 (Pty) Ltd without conditions.
Crossfin SPV 3, ultimately controlled by Crossfin Holdings (RF) (Pty) Ltd, already had joint control over Sybrin Holdings prior to the merger. The “Acquiring Group,” which includes Crossfin SPV 3 and its related entities, invests primarily in the financial technology sector.
Sybrin Holdings, the primary target, is an investment holding company whose subsidiaries provide a range of software and support services, including intelligent document processing, payments and clearing, case management, document management, and digital identity management.
The Commission noted that the transaction is unlikely to substantially reduce or prevent competition in any market and does not raise significant public interest concerns.
