Description of Activities

The Commission resolved to approve without conditions the acquisition by Brookfield CL Holdings LLC (“Brookfield”) of shares in Castlelake Group TopCo, L.P. and Castlelake Group GP, LLC. 

The acquiring group is a global asset manager headquartered in Toronto, Canada that offers a range of public and private investment products and services. Its investment focus is on renewable power and transition, infrastructure, private equity, real estate, and credit and insurance.

 The primary target undertakings are Castlelake Group TopCo, L.P. and Castlelake Group GP, LLC (together “target group”).  The target group is US based, global alternative investment firm. The target group’s business activities in Namibia are limited to Namib Lead and Zinc Mining Proprietary Limited, which is a Namibian company focused on mineral exploration, mining operations and related activities, and the production of lead and zinc concentrate.

 The Secretariat in assessing the activities of the merging parties concluded that it is not necessary to definitively define the relevant product market definition as the acquiring undertaking does not provide the same products and services as that of the target undertaking.

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.

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.