Description of Activities

Description: The Commission resolved to approve without conditions the acquisition by SPAP V BIDCO Proprietary Limited of shares in The Building Company Proprietary Limited(“TBCo”). 

Acquiring group: The primary acquiring undertaking is SPAP V BIDCO Proprietary Limited. The acquiring group does not have any operations in Namibia. However, in South Africa, the acquiring group is an investment group with investments in various sectors involved in the manufacturing of wine and spirits, the provision of virtual payment solutions, and the manufacturing of different types of plastics. 

Target undertaking: The primary target undertaking is TBCo, which is the building material division of Pepkor Holdings Limited’s Southern African operations. TBCo operates 137 stores across South Africa and six BUCO and Timbercity stores in Namibia. The target undertaking offers a full range of building materials. The target undertaking sells its building materials products in Namibia through BUCO and Timbercity.

Relevant market: The Secretariat defined the relevant market as the supply of building materials in Namibia.  

Merger Determination

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