Description of Activities

Description: The Commission resolved to approve with conditions the acquisition by Alma Terra Mater Investments Namibia (Pty) Ltd. and Power House Holdings (Pty) Ltd. of shares in Protek Electronics (Pty) Ltd. and The Windhoek Luxury Suites, a division of Red Trading Restaurant Close Corporation.

The acquiring group: The acquiring group, in Namibia, is in the investment and property holding business and is part of a Spanish family group with investments in hospitals, schools, nursing homes, education, and hotels.

The primary target undertaking: The target undertakings, Protek Electronics (Pty) Ltd., is a property-holding undertaking, while The Windhoek Luxury Suites is in the business of offering short-term luxury accommodation solutions. 

Relevant market: The Secretariat, looking at the activities of the merging parties, defined the product market as the provision of short-term luxury accommodation facilities.

Merger Determination

The Commission found the proposed transaction unlikely to result in the prevention or substantial lessening of competition or result in any undertaking to acquire or strengthen a dominant position in the market. However, the proposed merger did raise public interest concerns, especially employment concerns. Thus, the Commission approved the merger with employment conditions.

However, as stated under section 50 of the Act, this approval does not relieve parties from complying with any other mandatory statutory approvals that any of the parties to this merger must comply with under Namibian Laws