Bibliographie sélective OHADA

The Zimbabwean economy rapidly declined over the past two decades. A record hyperinflationary environment and a collapse of the financial service sector coupled by lack of external lines of credit created a difficult operating environment for corporate businesses. Businesses thus either closed down operations or resorted to survival strategies. Corporate mergers and acquisitions emerged as natural favoured strategies in implementing survival corporate restructuring transactions. However, the success of such strategies largely depends on the effectiveness of the merger regulatory framework, that is, its ability to promote beneficial corporate restructuring transactions on one hand and to maintain the competitive structure of the market on the other hand. This research analyses the current merger regulatory framework in Zimbabwe and assesses whether it is suited to promote beneficial corporate restructuring transactions implemented through mergers and acquisitions without unnecessarily distorting the competitive structure of the market. Employing the failing firm doctrine as the focal point, the research identified a number of shortcomings within the current merger regulatory framework that impacts upon its ability to effectively promote beneficial corporate mergers and acquisitions without sacrificing the competitive market structure. Selected comparative jurisdictions were used to draw various lessons for Zimbabwe. The aim of the comparative study was not to provide an exhaustive analysis of these jurisdictions but to identify specific arrears that can be used to develop and suggest an effective merger regulatory framework for Zimbabwe. In order to remedy the identified shortcomings inherent within the current Zimbabwean merger regulatory framework, this thesis proposes a number of amendments to the current Competition Act [Chapter 7:01] of 1996. These proposed amendments are aimed at bringing clarity, flexibility and strengthening the merger regulatory framework including the institutions tasked with such. The research is primarily a legal analysis of the Zimbabwean merger regulating statute and its implications on any decisions made by the competition authority. As such, the thesis states the status of legal development in Zimbabwe and the selected comparative jurisdictions as of 31 July 2013.

Accepted: 2016-06-14T09:45:26Z URI: https://repository.up.ac.za/handle/2263/53211