Description of Activities

Description of transaction: The Commission resolved to approve without conditions the acquisition by Erf One Six One Five Oshakati CC of an immovable property, namely the Remaining Extent of Erf 213 situated at Frans Indongo Street, Windhoek, Namibia.

Acquiring group: The primary acquiring undertaking is Erf One Six One Five Oshakati CC. The acquiring group is involved in property investment and owns immovable property in Omuthiya, Namibia. 

Target undertaking: The primary target undertaking is the Remaining Extent of Erf 213 situated at Frans Indongo Street, Windhoek, owned by Nedbank Namibian Limited.

Relevant market: The Secretariat looking at the activities of the merging parties defined the product market as the provision for sale and rental of commercial immovable property in the Municipality of Windhoek.

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.