Competition Commission
The South African Competition Commission is the regulatory body responsible for merger notification and approval under the Competition Act, 1998. For the AttBid Proprietary Limited acquisition of RMH Holdings, notification was a prerequisite to implementation as described in the Combined Circular distributed to RMH shareholders in early March 2026.
On 14 April 2026 the Commission approved AttBid’s offer unconditionally — no conditions of approval were imposed. RMH confirmed in a SENS announcement the same day: “Accordingly, the regulatory approval prerequisite to implementation relating to the Offer under the Competition Act, 1998, as described in the Combined Circular, has been fulfilled.” This clears the last major regulatory hurdle; the TRP (Takeover Regulation Panel) compliance certificate and shareholder acceptance remain the outstanding steps to closing.
The unconditional approval is notable given that the transaction results in a JSE-listed property holdco being taken entirely private through a structure where Atterbury Property — the sole underlying asset — is also the de-facto operator and economic majority in the acquiring entity. At the time of the SENS announcement, AttBid held over 10% of RMH’s total issued shares; Atterbury Property Fund held a further 32.77%, giving the concert party aggregate control of 42.97% of RMH before the offer formally opened.
Ontology Competition Commission [regulates] AttBid Proprietary Limited Competition Commission [relates] RMH Holdings Competition Commission [supports] AttBid Proprietary Limited
Connections
- AttBid Proprietary Limited — merger applicant; received unconditional approval 14 April 2026
- RMH Holdings — target company; SENS announcement confirmed approval to shareholders
- TRP (Takeover Regulation Panel) — parallel regulatory track; TRP compliance certificate still required
- Faan and Dirk van der Walt — ultimate beneficiaries of the cleared transaction