Description of Activities

Description of transaction: The proposed transaction involves the acquisition by Murrelets Investments (Pty) Ltd (“Murrelets”) of the entire shares in Novaship Namibia (Pty) Ltd (“Novaship”) from NovaNam (Pty) Ltd (“NovaNam”).

Acquiring group: The primary acquiring undertaking is Murrelets, incorporated in terms of the laws of the Republic of Namibia. The acquiring group is involved in a wide range of activities, including providing management and administrative functions to fishing companies, functioning as holding entities with investment interests in the fishing sector, and holding shares in companies that provide various other services, etc. 

Target undertaking: The primary target undertaking is Novaship, incorporated in terms of the laws of the Republic of Namibia. It is engaged in ship agency services at Walvis Bay, clearing and forwarding services at Walvis Bay, safety and chandling services at Walvis Bay, and Lüderitz.

Relevant market: The merging parties submit that the relevant market is transportation and storage.

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