Description of Activities

Description of transaction: The transaction involves the acquisition of shares and control of the Target Undertaking, Tulongeni Holdings Proprietary Limited (“Tulongeni”) by the Muller Familie Nam Trust (“Purchaser One”) and the Danla Trust (“Purchaser Two”) from the Kunene Business Trust (“Seller”) and Mr. Jakobus Hendrik Jansen van Vuuren (“JVV”).  

Acquiring group: The first Acquiring Undertaking is the Muller Familie Nam Trust (“Purchaser One”), a Namibian trust, and the second Acquiring Undertaking is the Danla Trust (“Purchaser Two”), a trust yet to be registered with the Master.

Purchaser One currently holds interests in the Target Undertaking, Tulongeni, which is involved in the fuel retail business across the country.

Target undertaking: The primary target undertaking is Tulongeni Holdings Proprietary Limited (“Tulongeni”), a company duly incorporated in accordance with the laws of Namibia and currently owned by the seller and JVV. 

The Target operates fuel retail businesses in Namibia with main activities consisting of the retail sale of refined petroleum products, including petrol (gasoline), diesel fuel, and engine lubricants.

Relevant market: The merging parties did not submit that the relevant. However, the Secretariat defines the relevant market as the retail/ sale of refined petroleum products, including petrol (gasoline), diesel fuel, and engine lubricants in the specific towns in which the Target operates: Walvis Bay, Noordoewer, Mariental, Windhoek, and Tsumeb. 

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