Description of Activities

Description of transaction: The Commission resolved to approve without conditions the acquisition by Indongo Energy (Pty) Ltd (‘’Indongo Energy’’) and Willem Cornelius Schalkwyk (‘’Schalkwyk’’) of shares in Bachmus Oil and Fuel Supplies (Pty) Ltd (“Bachmus”) as a going concern.

Acquiring group: The primary acquiring undertakings are Indongo Energy and Schalkwyk. Indongo Energy is ultimately controlled by the Frans Indongo group and is involved in the retail and supply of petroleum products and provide solar energy. The Frans Indongo group is a diversified Namibian conglomerate group that owns service stations, Toyota dealerships, Ford franchise, hospitality establishments, and steel manufacturing.

Schalkwyk is a natural person with business interest in the fuel industry. 

Target undertaking: The primary target undertaking is Bachmus Oil and Fuel Supplies (Pty) Limited, and it is licensed to sell fuel and lubricants to retail and commercial customers throughout Namibia.

Relevant market: The Secretariat defined the relevant product market as the market for the supply of oil products, retail fuels, and lubricants.

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.