Description of Activities

Description: The Commission resolved to approve without conditions the acquisition by Jeanoit Investments Proprietary Limited of the business of African Maritime Services (Namibia) (Proprietary) Limited and AMS Lifting & Towing Systems (Proprietary) Limited. 

Acquiring group: The primary acquiring undertaking, Jeanoit, is a subsidiary of Gold Panther (Proprietary) Limited, which in turn is owned by Anchor Industries (Proprietary) Limited. The acquiring group offers engineering services and equipment for lifting, rigging, marine, and offshore mooring. These include equipment sales, testing, and rentals, as well as training, in-house manufacturing, and on-site inspection services. 

Target undertaking: The target undertakings are AMS Nam and AMS LTS, whereby AMS LTS is a wholly owned subsidiary of AMS. AMS Nam supplies offshore fishing equipment, including trawl building and design, cod end manufacturing, headline and footropes, Euronet netting, shackles, combination rope and chain, hooks, links and connectors, etc. AMS LTS provides lifting, towing & mooring equipment and services to the local & international oil and gas, general marine, and mining industries. 

Relevant market: Defined as the market for the supply of offshore fishing equipment and the supply of marine, rigging, lifting, and mooring equipment 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.