Description of Activities

Description: The Commission resolved to approve without conditions the acquisition by Mr. Guerman Goutorov of four separate Sectional Titles, Section no. 1, Section no. 2, Section no. 4 and Section no. 8 of Sectional Plan No. SS23/2018, which collectively constitute a single immovable property from Pebble Beach Investments CC (“Pebble Beach”).

Acquiring group: The primary acquirer is Guerman Goutorov (“Mr. Goutorov”), a male citizen of the United Arab Emirates. Although Goutorov is acquiring the property in his personal capacity, he has various business interests in Namibia, including a cattle ranch and a lodge in Swakopmund, as well as several residential properties around Namibia.

Target undertaking: The primary target undertaking is made up of four separate Sectional Titles, Section no. 1, Section no. 2, Section no. 4 and Section no. 8 of Sectional Plan no. SS23/2018, which collectively constitute a single immovable property. The property is registered under Pebble Beach Investments CC, which is owned by Ms. Christina Sabine Synnot (“Ms. Synnot”), who is the Seller.

Relevant market: Defined the relevant market as the ownership of residential property within the Municipality of Swakopmund. 

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.

Merger Determination No.5 of 2026