Description of Activities

Description of transaction: The transaction involves the acquisition of issued share capital in the CHL and its subsidiaries by AVPP. 

Acquiring group: The primary acquiring undertaking is Africa Venture Partners Projects (Proprietary) Limited, a company duly incorporated in accordance with the laws of Namibia. AVPP is a venture capital company that manages and operates projects in Namibia, which include importing wine from SA, exporting beef to Europe, and producing and supplying ammunition and biogas projects. 

Target undertaking: The primary target undertaking is Closwa Holdings (Proprietary) Limited, a company duly incorporated in accordance with the laws of Namibia and involved in the production and supply of meat products. In Namibia, Closwa Holdings operates within the broader meat industry, where its focus is dried meat products such as biltong. However, it also exports wet game meat to Europe. 

Relevant market: The parties submit the relevant market is the production and supply of meat products in Namibia.

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