Description of Activities

Description: The Commission resolved to approve without conditions the acquisition by the Government Employment Pension Fund of Concor Holdings (Pty) Ltd.

The acquiring group: The acquiring group has investments across various asset classes, including cash and money markets; domestic bonds; domestic property; domestic equity; African equity (excluding South Africa); foreign bonds, and foreign equity.

Target undertaking: The primary target undertaking, and its subsidiaries, are in the construction business offering diversified infrastructure and services in South Africa and other African countries, with core competencies in the infrastructure, building, mining, and property development sectors.

Relevant market: The Secretariat defined the product market as the sale of ready-mix concrete.

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.