Description of Activities

Description of transaction: The proposed transaction involves the acquisition of the entire shareholding  in Honoris Holdings Limited by K202583350 (South Africa) Proprietary Limited (SA Bidco).

Acquiring group: The acquiring undertaking is K202583350 (South Africa) Proprietary Limited (SA Bidco), a newly incorporated undertaking with no trading history. For completeness, the acquiring undertaking is controlled by Old Mutual Private Equity SPV Proprietary Limited, operating in the financial services industry, providing the following services: life insurance, asset management, retirement funding, short-term insurance, and financial advice. 

Target undertaking: The target undertaking is Honoris Holdings Limited. In Namibia, the target undertaking operates a private higher education institution, namely Regent Business School (Namibia). The target undertaking also operates other private higher education institutions in South Africa, which have limited enrollments of Namibian students in their distance learning programmes.

Relevant market: The merging parties define the relevant markets as the provision of financial services in Namibia and the provision of private higher education services in Namibia. 

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