Description of Activities

Description of transaction: The proposed transaction constitutes the acquisition by Mr. Guerman Goutorov of four separate Sectional Titles, Section no. 1, Section no. 2, Section no. 4 and Section no. 8 of Sectional Plan no. SS23/2018, which collectively constitute a single immovable property from Pebble Beach Investments CC (“Pebble Beach”).

Acquiring group: The primary acquirer is Guerman Goutorov (“Mr. Goutorov”), a male citizen of the United Arab Emirates. Although Goutorov is acquiring the property in his personal capacity, he has various business interests in Namibia, including a cattle ranch and a lodge in Swakopmund, as well as several residential properties around Namibia.

Target undertaking: The target undertaking is made up of four separate Sectional Titles, Section no. 1, Section no. 2, Section no. 4 and Section no. 8 of Sectional Plan no. SS23/2018, which collectively constitute a single immovable property. The property is registered under Pebble Beach Investments CC, which is owned by Ms. Christina Sabine Synnot (“Ms. Synnot”), who is the Seller. The property is currently utilised as a guesthouse by Villa Maji Hospitality CC, which is also owned by Christina.

Relevant market: The merging parties submit that the relevant market is the residential property market. 

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