Description of Activities

Description: The Commission resolved to approve without conditions the proposed transaction that is a property transaction in which Perseus will acquire all shares and claims in Thirty-Three Schanzenweg Property (Pty) Ltd, thereby becoming the owner of the immovable property previously owned by Thirty-Three Schanzenweg Property (Pty) Ltd.

Acquiring group: The primary acquiring undertaking is Perseus, a Namibian incorporated private entity controlled by a natural person, Mr. Guerman Goutorov (“Mr. Goutorov”). Perseus does not control any other entity directly or indirectly. Mr. Goutorov, on the other hand, controls several entities domiciled in Namibia. Perseus’s interests are to invest in property, shares, security, and/or equities. The broader acquiring group's business interests are mainly property investments and holdings spanning residential, commercial, agricultural land, and hospitality.  

Target undertaking: The primary target undertaking is Thirty-Three Schanzenweg Property (Pty) Ltd., a Namibian private incorporated entity controlled by five individuals. The Target Undertaking does not control any other undertaking directly or indirectly. The Target Undertaking owns a single immovable property, which was leased as an office space.  

Relevant market: Defined as the ownership of immovable properties zoned as office in the Windhoek Municipality. 

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.