Description of Activities

Description of transaction: The proposed transaction comprises the acquisition of pro rata shareholding in Leyburn Investment (Proprietary) Limited (“Leyburn”) by Cadence Khumo Property Fund (Proprietary) Limited (“Cadence Khumo”). 

Acquiring group: The primary acquiring undertaking is Cadence Khumo, which is a private limited company owned by Cadence Capital (Proprietary) Limited (“Cadence Capital”), which is in turn jointly owned by Fullbright Investments (Pty) Ltd (“Fullbright”) and Mr. Reagon Graig (“Mr. Graig”). Fullbright is controlled by Elias Americo De Almeida, Johannes Hendrik Botha and Isak Mekondo Nahum. Cadence Khumo and its controlling entities are collectively referred to as the acquiring group. 

The acquiring group is involved in property development, construction and property sales or letting, fund management, financial advisory and consultancy services in Namibia. 

Target undertaking: The primary target undertaking is Leyburn, a private limited company owned by WCE Holdings (Pty) Ltd (“WCE”). Leyburn controls Dynevor Investments (Pty) Ltd (“Dynevor”), a private company that owns the land on which the Tilden Square Project is to be developed, which will also be controlled by the acquiring group post-merger. Leyburn and its controlling entities are herein referred to as the target group. The target group is involved in property development, construction and land sales or leasing.

Relevant market: The merging parties defined the relevant market as the development, ownership and letting of commercial, office and retail space in Windhoek, Namibia

Submit Your Comments

The Namibian Competition Commission (NaCC) values your input in ensuring fair competition across the country. If you have concerns about a business practice, merger, or market behavior, simply fill out our Feedback Form below. Provide a brief description of your concern, and include any relevant details or documentation. Your submission will be reviewed confidentially, and we’ll follow up if further information is needed.

Submission Form