Description of Activities

Description: The Commission resolved to approve without conditions the acquisition by Oryx Properties Limited of shares in Safari Investments Namibia Proprietary Limited.

Acquiring group: The primary acquiring undertaking, Oryx, is a public company registered in terms of the laws of Namibia and listed on the Namibian Stock Exchange. Oryx is a well-established property investment fund with exposure to different real estate industry segments throughout Namibia, including retail, industrial, commercial, and residential. 

Target undertaking: The primary target undertaking, Safari Investments Namibia, owns and controls the Platz am Meer Shopping Centre in Swakopmund, which is classified as a “Community Centre” and offers a variety of shopping and entertainment offerings. Major tenants include Checkers, Edgars, Woolworths, Dischem, and House and Home. The mall also has restaurants and development consisting of A-grade office and residential units.

Merger Determination

The Commission found the proposed transaction unlikely to result in the prevention or substantial lessening of competition or result in any undertaking to acquire or strengthen a dominant position in the market and did not raise any public interest concerns.

However, as stated under section 50 of the Act, this approval does not relieve parties from complying with any other mandatory statutory approvals that any of the parties to this merger must comply with under Namibian laws.