Description of Activities

Description of transaction: The Commission resolved to approve without conditions the acquisition by IBC Solar AG, of controlling interest in SWSA Holdings and its subsidiary, Solar World (Pty) Ltd. 

Acquiring group: The acquiring group provides solar energy solutions, including solar modules, inverters, accessories, and storage solutions. Globally, the acquiring group has a focus on the provision of solar energy solutions to the residential, commercial, industrial, and solar parks sectors. 

Target undertaking: The primary target undertaking comprises of SWSA Holdings and its subsidiary, Solar World (Pty) Ltd. SWSA Holdings is the holding company of Solar World (Pty) Ltd., which is involved in the wholesaling and distribution of a wide range of solar PV systems and related products and services.

Relevant market: The Secretariat defined the relevant product market as the sale of solar PV systems and related products and services.

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.