Description of Activities

Description: The Commission resolved to approve without conditions the acquisition by Mpact Operations (Pty) Ltd. of the issued share capital in Seyfert Corrugated Western Cape.

Acquiring group: The primary acquiring undertaking is Mpact Operations (Pty) Ltd., which is a paper and plastic recycling company with various facilities in Southern Africa, including Namibia, and whose focus is on paper and plastic packaging through recycling and beneficiation of recyclables. Thus, its customers include packaging converters, fruit producers, and FMCG companies.

Target undertaking: The primary target undertaking is Seyfert Corrugated Western Cape (Pty) Ltd., which is a packaging business involved in the production and resale of converted packaging products and is based in South Africa.

Relevant market: Defined relevant product market, which is twofold, is the manufacturing/production (upstream) and the supply/retail (downstream) of corrugated boxes and converted packaging products in Namibia.

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.