Phindi Kema. Battle lost?
The Competition Appeal Court has dismissed Phindi Kema’s Africa Race Group’s appeal against the recent merger between Kenilworth Horseracing and Western Cape Racing, with costs.
The matter was heard in the Cape High Court this morning.
The other leg of the merger involved the Thoroughbred Horseracing Trust acquiring 100 percent of the issued share capital in Kenilworth Racing.
The two transactions have the result of the trust acquiring control of Cape racing and its business.
The trust owns 35,26 percent of Phumelela.
With Kema’s only remaining option possibly being a Constitutional Court challenge, the decision brings a long running battle to an end.
In March 2012 the Competition Commission prohibited the merger proposals on objections lodged by Kema and Africa Race Group.
The decision was, however, reversed on appeal by the racing entities involved.
Kema then approached the CAC with an application to appeal the approval.
Counsel for Kenilworth racing, Gold Circle and the Thoroughbred Horseracing Trust originally objected to the application on the basis that Kema was neither a party to the mergers or a trade union.
