Description of Activities

Description of transaction: The Commission resolved to approve without conditions the acquisition by ANR Solar (UK) Limited of the Noerap Trust, Emesco Alpha Park (Pty) Ltd, and Rosh Pinah Solar Park (Pty) Ltd. 

Acquiring group: The acquiring undertaking is controlled by Appian Natural Resources Fund III LP and Appian Natural Resources Fund (UST) III LP. The acquiring group invests in mining or mining related companies, assets, and management teams across select geographies and commodities. In Namibia, it is active in the mining sector through Rosh Pinah Zinc Corporation (Pty) Ltd, which corporation controls the Rosh Pinah Zinc Mine, which produces and exports zinc and lead concentrates. 

Target undertaking: The primary target undertaking, comprises a group of undertakings, namely, the Noerap Trust, Emesco Alpha Park (Pty) Ltd, and Rosh Pinah Solar Park (Pty) Ltd. The target undertakings own renewable energy projects in Rosh Pinah, Namibia.

Relevant market: The Secretariat defined the relevant product market as the market for national electricity generation.

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.