Competition watchdog approves 11 mergers
Some approvals have conditions
The mergers involving Vivo Namibia and Triple J as well as 2 M Promotions and RUIMITE were found to have a negative impact on employment.
The Namibian Competition Commission (NaCC) has approved eleven mergers, with some getting approval with conditions. The first merger involves the acquisition by Vivo Namibia of the assets and business conducted by Triple J.
The merger was found to have a negative impact on employment as the sale entails 98% of the seller’s business, however, such sale did not include employees and as such to protect the employment of the 21 employees, an employment condition is recommended. There shall be no retrenchment of the twenty one employees employed by the Seller’s business for a minimum period of three years.
The second merger entails the acquisition by 2 M Promotions of the entire issued share capital of RUIMTE. The merger was approved provided that there shall be no retrenchments of employees below management level of the merged entity as a result of the merger for a period of three years from the date of implementation.
Furthermore, the third transaction entails Diroyal Motors, an indirect subsidiary of the Bidvest Group Limited, acquiring sole ownership of and control over the Ford Automotive Dealership Business of Indongo Ford in Oshakati.
NaCC found that the transaction will have no negative effect on employment as there will be no job losses, including redundancies and retrenchments as a result of the implementation of the merger.
In addition, the transaction concerning the acquisition by Life Healthcare Group Proprietary Limited of the dialysis services business of Fresenius Medical Care was approved.
The merger is unlikely to have a negative impact on employment. Further, the merger does not raise any other public interest concerns, NaCC stressed.
Other transactions that were approved include:
• Polyoak Properties (Pty) Ltd and Plaspack Properties Prosperita (Pty) Ltd.
• The Expanded Infrastructure Fund and Aloe Investment Number Twenty-Seven (Pty) Ltd
• Pupkewitz Property Unit Trust and Thunderstruck.
• BCP VI Neptune Bidco Holdings Limited and Network International Holdings Plc.
• Cider House Investments (Pty) Ltd and the Licence for the sale and distribution of the Strongbow FAB Brand.
• Puma Energy (Namibia) (Pty) Ltd and True-Gem Investment Close Corporation.
• Gastra Karibib Engen CC and Drikus Bruwer Swanepoel.
All in all, NaCC found that the mergers are unlikely to have any negative impact on employment and no other public interest concerns were raised.