Description of Activities

Description: The Commission resolved to approve without conditions the sale and acquisition of immovable properties reciprocally between the merging parties. Mr. Charl Frederick Baard, through Klein Elsenburg, is selling two immovable properties to Africa Global Logistics Namibia (Proprietary) Limited (“AGL Namibia”) subject to the reciprocal sale of two properties owned by AGL Namibia to Baard Properties CC (“Baard Properties”), owned by Phillipus Frederick Baard (the son of Mr. Charl Frederick Baard). 

Acquiring group: The acquiring group is involved in mining and logistics.

Target undertaking: The target undertaking, Klein Elsenburg, has as its objectives the owning and letting of movable and immovable assets and related activities, while Baard Properties is a property investment entity.

Relevant market: The Secretariat, looking at the transaction and the activities of the merging parties, concludes that it is not necessary to define the market given that the transaction is classified as a conglomerate merger with no market share accretion.

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.