Application for Merger of Momentum Health Holdings and Metropolitan Holdings, South Africa Momentum Health Malawi submitted an application for authorisation of a merger between Momentum Health Malawi and Metropolitan Holdings Limited. The transaction is part of a broader transaction between Momentum Group Limited (now MMI Group Limited) and Metropolitan Holdings Limited (now MMI Holdings Limited) which took place in South Africa in November, 2010. The transaction effected an indirect acquisition of control of Momentum Health Malawi by Metropolitan Holdings Limited. It was submitted to the Commission that Momentum Health Malawi provides health insurance services and is the only party to the transaction with commercial presence in Malawi. Metropolitan Holdings Limited is based in South Africa with subsidiaries that are involved in a wide range of businesses including provision of insurance, administration, investment and health solutions for individuals and organisations in Africa. The Commission noted that the transaction would not result in any change in the health insurance market structure as the number of players in the market will remain the same after the acqusition. It was also noted that none of the shareholders of Metropolitan Holdings Limited has shares in any of the health insurance companies operating in Malawi. In this regard, the Commission determined that the proposed merger would not likely result in lessening competition in the health insurance market in Malawi. To this effect, the Commission authorised the merger of Momentum Health Holdings and Metropolitan Holdings, South Africa.
Posted on: Tue, 13 Aug 2013 12:35:49 +0000