Description of Activities

Description: The Commission resolved to approve without conditions the acquisition by Ohlthaver & List Finance and Trading Corporation Proprietary Limited of the entire issued share capital of Nedbel Investments (Pty) Ltd together with its subsidiaries holding two properties and business operations under the Le Mirage and Divava businesses as a going concern.

Acquiring group: The primary acquiring undertaking is Olfitra, which forms part of the O&L group of companies. The O&L group of companies is a diversified conglomerate active in various industries, such as fishing, FMCGs, tourism, and renewable energy. The acquiring group, in relation to this transaction, is active in the hospitality and tourism industry in Namibia through O&L Leisure (Pty) Ltd., with the following accommodation establishments: Strand Hotel Swakopmund, Midgard Otjihavero, Mokuti Etosha, and Chobe Water Villas. 

Target undertaking: The primary target undertaking is Nedbel, which is a holding entity of two entities that holds properties that encompass the business operations of Le Mirage Resort Spa & Safaris in the Hardap Region and the Divava Okavango Lodge Spa & Safaris in the Kavango East Region. 

Relevant market: Defined as the market for hospitality (lodging) 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.