Description of Activities

Description: The Commission resolved to approve without conditions indivisible transactions as described herewith. The first transaction is for the sale of the entire member's interest in BV Investments Twenty-Six CC by TheFar Property Namibia (Pty) Ltd. 

Acquiring group: TheFar Property Namibia (Pty) Ltd. and Kalahari Kickstart Investments (Pty) Ltd. comprise the first and second primary acquiring undertakings. Kalahari Kickstart Investments (Pty) Ltd. is a subsidiary of TheFar Property Namibia (Pty) Ltd. The acquiring group comprises TheFar Property Namibia (Pty) Ltd and Kalahari Kickstart Investments (Pty) Ltd. Kalahari Kickstart Investments (Pty) Ltd is a subsidiary of TheFar Property Namibia (Pty) Ltd. The business objectives of the acquiring group are property ownership; to earn rental income; and the business of investing in property, shares, securities, or inquiries of any kind; to manufacture, distribute, produce, construct, trade, import, or export; to market; to render services of any kind; to act as agents or managers; and to engage in farming, transportation, logistics, information technology, mining, and exploration.

Target undertaking: The first primary target undertaking is BV Investments Twenty-Six CC, while the second primary target undertaking is Indraai Abattoir—as a going concern. The target undertakings have their business objectives as property investment and holding and slaughtering of livestock, trading, wholesaling, and retailing of meat and related products.

Relevant market: TIn respect of the first transaction, the market was defined as the market for immovable property zoned undetermined in Namibia. In respect of the second transaction, the market was defined as the slaughtering of livestock, trading, wholesaling and retailing of meat and related activities 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 the parties from complying with any other mandatory statutory approvals that any of the parties to this merger must comply with under Namibian laws.