Description of Activities

Description of transaction: The Commission resolved to approve without conditions the acquisition by Capitali Property Investments (Pty) Ltd of shares in B2Gold Namibia Property Proprietary Limited. 

Acquiring group: The primary acquiring undertaking, Capitali is a special purpose vehicle and was incorporated solely for the proposed transaction, and it is controlled by the Otjikoto trust. The acquiring group owns a law firm. 

Target undertaking: The primary target undertaking is B2Gold Namibia. The target undertaking owns immovable properties from which it generates revenue through rental income, crop farming, hunting, and other tourism-related activities. 

Relevant market: Concluded that it is not necessary to definitively conclude on the relevant product market definition since there are no overlaps or vertical integration between merging parties’ activities.

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.