Competition watchdog approves seven mergers
No public interest concerns
NaCC decisions are based on the grounds that the proposed mergers are not likely to prevent or lessen competition in Namibia.
The Namibian Competition Commission (NaCC) approved seven proposed mergers as it was found that they will not prevent or lessen competition in Namibia, NaCC’s spokesperson Dina //Gowases said in a statement.
The commission further found that the transactions do not raise public interest concerns, including employment.
The first transaction entails Kano Prop an existing shareholder increasing its shareholding in Tulongeni Property Developers.
The second transaction involves the acquisition by Energy Utilities Operations of the entire issued share capital of Solsquare Energy. The transaction will enable Energy Utilities to expand their business operations to include construction capabilities and therefore able to provide holistic renewable energy solutions to the market.
The third transaction entails the acquisition by EMIF Investments of the entire issued share capital of Vector Logistics. The merger is classified as a conglomerate merger in that it involves undertakings in unrelated markets.
In addition, KI Mining intends to increase its existing shareholding in QKR Corporation. Upon implementation of the proposed transaction, KI Mining will hold the majority of the shares in QKR, thus exercising sole control over QKR. This is a conglomerate merger. On the international market the merging parties are insignificant competitors and compete with larger gold producers, the commission said.
Moreover, NaCC approved the proposed merger involving Old Mutual Life Assurance Company and Hallie Investment. The merger is classified as a conglomerate merger in that it involves undertakings in unrelated markets.
Furthermore, the proposed transaction involving RCK Investment and Altron Technologies Namibia was also approved.
The last transaction involves the acquisition by SPE BidCo of the entire issued share capital of Danny's Auto. The proposed transaction takes place in South Africa and involves South African legal entities, with only a tangential link to Namibia through export revenues by the primary target undertakings.
The commission further found that the transactions do not raise public interest concerns, including employment.
The first transaction entails Kano Prop an existing shareholder increasing its shareholding in Tulongeni Property Developers.
The second transaction involves the acquisition by Energy Utilities Operations of the entire issued share capital of Solsquare Energy. The transaction will enable Energy Utilities to expand their business operations to include construction capabilities and therefore able to provide holistic renewable energy solutions to the market.
The third transaction entails the acquisition by EMIF Investments of the entire issued share capital of Vector Logistics. The merger is classified as a conglomerate merger in that it involves undertakings in unrelated markets.
In addition, KI Mining intends to increase its existing shareholding in QKR Corporation. Upon implementation of the proposed transaction, KI Mining will hold the majority of the shares in QKR, thus exercising sole control over QKR. This is a conglomerate merger. On the international market the merging parties are insignificant competitors and compete with larger gold producers, the commission said.
Moreover, NaCC approved the proposed merger involving Old Mutual Life Assurance Company and Hallie Investment. The merger is classified as a conglomerate merger in that it involves undertakings in unrelated markets.
Furthermore, the proposed transaction involving RCK Investment and Altron Technologies Namibia was also approved.
The last transaction involves the acquisition by SPE BidCo of the entire issued share capital of Danny's Auto. The proposed transaction takes place in South Africa and involves South African legal entities, with only a tangential link to Namibia through export revenues by the primary target undertakings.
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