Description of Activities

Description: The Commission resolved to approve without conditions the acquisition by General Atlantic Partners L.P of the entire shares in Actis Holding S.A.R.L. 

Acquiring group: The primary acquiring undertaking is General Atlantic Partners L.P. The acquiring group is a global growth capital firm with over four decades of experience in providing capital and strategic support to growing businesses. It currently manages a portfolio of more than 200 companies. The acquiring group is currently not active in Namibia.

Target undertaking: The primary target undertaking, Actis Holding S.A.R.L., is a global sustainable infrastructure investor, focusing on energy, long-life digital infrastructure, real estate, and private equity. Its portfolio companies operate in Namibia through Food Lovers Holdings Proprietary Limited, a South African investment holding company. This company’s subsidiaries, Namibian Fresh Produce Market (Pty) Ltd. and FLM Fruit and Vegetable Namibia (Pty) Ltd., wholesale, distribute, and retail fresh produce, groceries, beverages, and other food-related products to consumers.

Relevant market: The Secretariat defined the relevant market to be the market for the wholesaling, distribution, and/or retailing of fresh produce, groceries, and beverages in Namibia. 

Merger Determination

The Commission found the proposed transaction unlikely to result in the prevention or substantial lessening of competition; does not result in any undertaking acquiring or strengthening a dominant position in the market and does not raise any public interest concerns.