Description of Activities

Description: The Commission resolved to approve without conditions the acquisition by Nature Investment Pty Ltd of member’s interest in Palmeiras Hotel CC. 

Acquiring group: The primary acquiring undertaking, Nature Investment Pty Ltd., is a property-holding entity that invests in and owns properties used for hospitality and tourism-related operations. Nature Investment is ultimately owned by Gondwana Holdings Limited. The acquiring group is involved in providing accommodation and activities, travel advice, rental cars, and tourism shuttles throughout Namibia.

Target undertaking: The target undertaking, Palmeiras Hotel CC, is a property holding company that has been dormant and holds an immovable property, the remaining extent of Erf No. 78, Klein Windhoek. 

Relevant market: Defined as the market for ownership of land zoned as “office” in Windhoek.

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.