In the interest of maintaining competition within the industry, the South African Competition Tribunal has ruled that due to the possible anti-competitive environment which now exists, it would be deemed prudent to dispose of Gallagher Estate. The competition between Sandton Convention Centre and Gallagher Estate must be maintained to protect ongoing competition in the market.
The Tribunal has stressed the following conditions:
Gallagher Estate must continue to operate as a conference and exhibition centre, offering the same level of standards as before any disposal
The parties buying Gallagher Estate have to be experienced in the business of operating a conference and exhibition centre
Chairman of the Exhibition Association, Justin Hawes, says: "We believe that it's very important to have a competitive venue market. The proposal of keeping Gallagher Estate as an exhibition venue is very positive for our industry."
Managing Director Andrew Dunkley says: "It's very much business as usual at Gallagher Estate. We do not foresee any changes that will impact any of our client bookings."
According to Dunkley, the disposal must take place within one year and it will be even longer before all matters surrounding any disposal are finalised. Any and all signed contracts would be honoured by the new owners.
