Description of Activities

Description: The Commission resolved to approve without conditions the acquisition by ICON Construction Ltd. of shares in Karl Neumayer Civil Contractors (Pty) Ltd. 

Acquiring group: The primary acquiring undertaking is ICON Construction Ltd. The acquiring group is an investment holding company investing in subsidiaries in Southern Africa that are engaged in civil construction. These operating subsidiaries service the mining, oil & gas, industrial, commercial, hospitality, infrastructure, and residential sectors. The acquiring group is also involved in consultancy work and has extended its business activities to include procurement, supply chain management, and logistics services. The acquiring group is not active in the Namibian market.

Target undertaking: The primary target undertaking is Karl Neumayer Civil Contractors (Pty) Ltd. The target undertaking is a construction company and renders the following services: earthwork; civil construction & repairs; mining; structural; platework & maintenance repairs; mechanical installation; crushing & screening; steel construction; plant & equipment hire; surveying; civil construction; detailing engineering; sandblasting facilities; maintenance; painting & rolling; assembling and installing mechanical items; and piping construction. The target undertaking renders these services in Rosh Pinah, Karibib, Swakopmund, Windhoek, and Oranjemund, Namibia. 

Relevant market: The Secretariat defined the relevant market as the provision of general construction and related services 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. There is no geographical overlap, and there is no market share accretion as the acquirer is currently not active in Namibia.