Tobacco giant's acquisition of Twisp approved

The Competition Tribunal has conditionally approved the acquisition of SA e-cigarette seller, Twisp, by international cigarette giant, British American Tobacco SA. BATSA and Twisp would not be allowed to ‘retrench any employees in contemplation of the merger, or as a result of the merger, for a period of two years from the date on which the transaction is implemented’, said the tribunal in a statement yesterday. A Fin24 report notes the conditions also stipulate that the merging parties must not enter into agreements with retailers, requiring or incentivising them not to rent retail space to competitors, or not sell the products of competitors. The conditions will be applicable for a period of five years.