Kolos Cement released from competition requirements

Kolos Cement released from competition requirements
17 September 2018

Mauritius-based Gamma Civic Ltd has been released from its commitment set by the Competition Commission of Mauritius (CCM) to have its subsidiary Kolos Cement Ltd, previously known as Holcim (Mauritius), resort to a bidding exercise to buy cement. The company currently operates the largest terminal on the Indian Ocean at 60,000t.

Gamma Civic acquired 51 per cent of the company in 2015, and was subsequently required to address any competition issues. The company agreed it would buy cement through a bidding exercise to ensure competition on the market regarding cement imports. However, Gamma recently sold 25 per cent of its stake to Singapore’s WH Investments Ltd and therefore requested the CCM to re-evaluate the competition conditions.

"The markets are very dynamic, as is the competition process. Changes in market structure and the dynamics of competition may, under certain circumstances, require the intervention of the CCM, while further changes in the market structure may no longer require the same intervention," said Deshmuk Kowlessur, executive director of the CCM. "The bidding process is now left to the market," added Mr Kowlessur.

Published under Cement News