Description of Activities

Description of transaction: The Commission resolved to approve without conditions the acquisition by O & L Centre (Proprietary) Limited of Erf 3570 Swakopmund, an immovable property. 

Acquiring group: The primary acquiring undertaking, O&L Centre (Proprietary) Limited provides finance, administrative and support services to the broader O & L Group of Companies i.e. payroll, human capital, SAP, legal, software, IT services etc. The acquiring group is owning retails shops, immovable properties, sell fresh produce, meat products and provides finance, administrative and support services in Namibia. 

Target undertaking: The primary target undertaking is an immovable property located in Swakopmund. 

Relevant market: The Secretariat looking at the activities of the merging parties defined the product market to be the immovable property zoned as “special”.

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 and did not raise any public interest concerns.

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.