Description of Activities

Description of transaction: The proposed transaction entails the acquisition of the entire members interest together with the claims in the corporation, which conducts business on Portion 79 (a portion of portion 74) of the consolidated farm Tsumore No. 761, Tsumeb, Republic of Namibia, namely the business of a Puma franchised service station, public bar, accommodation facilities comprising of two renovated train coaches and a honeymoon suite, a franchised OK Groser, store, a camping area and a flat on the third floor of the building including all movable assets by Mr. Matheus Shikongo (“acquirer” in Farmhouse Deli and Store Close Corporation (“target”). 

Acquiring group: The primary acquiring undertaking is Mr. Matheus Shikongo, a Namibian major businessman. His business activities entail conducting and operating retail fuel outlets and providing related services through two Service stations, with one situated in Outapi and another situated in Oshakati.

Target undertaking: The target undertaking is Farmhouse Deli and Store Close Corporation, a close corporation registered in accordance with the laws of the Republic of Namibia. The target’s business activities entail a Puma franchised fuel retail outlet, a public bar, accommodation facilities, and an OK Groser franchised store.

Relevant market: The relevant market comprises retail fuel outlets and related services, a public bar, accommodation facilities, and Groser stores within Namibia.

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