Novaship deal cleared under job protection conditions

Competition authorities have approved Murrelets Investments’ acquisition of Novaship Namibia, but attached conditions aimed at shielding employees from possible negative impacts arising from the transaction.

The commission says the transaction has raised concerns over its potential effect on employment, leading regulators to impose measures designed to protect workers.

“The commission identified potential negative effects on employment arising from the transaction,” says the Namibian Competition Commission (NaCC).

As part of the approval, the board has prohibited merger-related retrenchments for three years and also introduced consultation and reporting obligations.

“These measures were designed to protect employment and uphold public-interest considerations,” says the NaCC.

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المصدر: The Namibian