Description of Activities

Description: The Commission resolved to approve without conditions the proposed transaction that forms part of a larger restructuring of the respective interests of (i) Remgro Limited (“Remgro”) and (ii) MSC Mediterranean Shipping Company SA (“MSC Holding”) (through its wholly owned subsidiary Investment Holding Limited S.à.r.l. (“IHL”)) in Mediclinic Holdings Limited (“Mediclinic Holdings”). Currently Remgro and IHL each jointly control Mediclinic Holdings. Following the implementation of the proposed transaction, Remgro will transition from indirectly jointly controlling MCSA to sole control.

Acquiring group: The primary acquiring undertaking is RHH, a South African incorporated entity controlled by Remgro, a public company listed on the JSE. Aside from its joint control of the target undertaking, Remgro also indirectly controls Wispeco Holdings Proprietary Limited, which indirectly controls Namibia Extrusions (Proprietary) Limited. Remgro is a diversified investment holding company whose interests consist mainly of investments in healthcare, consumer products, financial services, infrastructure, and industrial sectors. Wispeco supply and distribute aluminum extrusions and related hardware utilized in the manufacturing of aluminium products. Furthermore, the acquiring group does sell products in Namibia related to pies, pet food, and grocery products under RCL Foods Limited and a variety of industrial and speciality gas products under Air Products South Africa Proprietary Limited.

Target undertaking: The primary target undertaking is MCSA, a South African incorporated entity controlled by Mediclinic Holdings, which is in turn ultimately jointly controlled by MSC Holding and Remgro. MCSA controls several entities in Namibia, forming part of the Mediclinic Group. Mediclinic Holdings is a diversified international private healthcare services group established in South Africa, with divisions in Switzerland, South Africa, Namibia, and the Middle East. MCSA indirectly owns and operates 3 multidisciplinary hospitals in Namibia. Additionally, under Mediclinic, the target owns a subacute and guesthouse facility.

Relevant market: Defined as the provision of private hospital services 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.