Description of Activities

Description of transaction: The proposed transaction concerns an acquisition by Logistics Support Services Proprietary Limited (“LSS”) of the entire issued and outstanding share capital of Bourbon Logistics Société par actions simplifiée (SAS) (“Bourbon Logistics”). Post-merger, LSS will solely control Bourbon Logistics.

Acquiring group: The primary acquiring undertaking is LSS, a private company incorporated in accordance with the laws of Namibia and is controlled by Wesco Holdings Proprietary Limited. The acquiring group is a marine, mining, and infrastructure project logistics company based in Walvis Bay, Namibia. Its services include (i) clearing, forwarding, and customs brokerage; (ii) warehousing, storage, and material handling; (iii) road freight transport; (iv) project logistics and supply chain services; (v) vessel crewing and people support services; (vi) ships agency and procurement services; and (vii) fuel supply, bunkering, and marine support services. Furthermore, the acquiring group is involved in the provision of equipment rental and transportation services related to marine and project logistics and the provision of waste management services.

Target undertaking: The primary target undertaking is Bourbon Logistics, a simplified joint stock company incorporated under the laws of France. Bourbon Logistics is controlled by Bourbon Marine & Logistics Société par actions simplifiée (SAS), a simplified joint stock company incorporated under the laws of France. Bourbon Logistics operates in Namibia and provides integrated shore-based logistics services to support offshore oil and gas exploration and drilling operations, including the provision of marine logistics services through the provision of supply vessels.

Relevant market: The merging parties submit that the relevant market is the national market for the provision of integrated shore-based logistics services to oil and gas companies in Namibia. 

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