Description of Activities

Description of transaction: The proposed transaction involves the acquisition By Ongava Game Reserve (Pty) Ltd (“Ongava”) of Epacha Nature Estate (Pty) Ltd ("Epacha") and its subsidiaries: Mariana Number 437 (Four Three Seven) Farming (Pty) Ltd, Florida Oos Number 439 (Four Three Nine) (Pty) Ltd, and Sangaree Number 736 (Seven Three Six) (Pty) Ltd (“the Target Group”). Post-merger, Ongava will solely control the target group. 

Acquiring group: The primary acquiring undertaking, Ongava a private company with limited liability, duly incorporated and registered as such in accordance with the applicable laws of Namibia. The acquiring group operates four luxury eco-tourism lodges which are Little Ongava, Ongava Game Lodge, Ongava Tented, and Anderssons at Ongava (“OGR Lodges”). The OGR Lodges can accommodate a maximum of 72 people. Along with the OGR Lodges, it operates a wildlife conservation initiative which provides sanctuary to thousands of animals, including various protected animals. This includes the housing, protection and research of various animals including protected animals. Further, the acquiring group operates a research centre which is focused on animal and plant ecological research. 

Target undertaking: The primary target group consists of Epacha and its subsidiaries. Epacha is the holding company of its subsidiaries: Mariana Number 437 (Four Three Seven) Farming (Pty) Ltd, Florida Oos Number 439 (Four Three Nine) (Pty) Ltd, and Sangaree Number 736 (Seven Three Six) (Pty) Ltd, who in turn are the sole owners of the following respective farms: Farm Mariana No. 437, Farm Florida Oos No. 439, and Farm Sangaree No. 736, all located in the Outjo district A, Namibia, collectively referred to as (“the Land”). The target group owns a luxury ecotourism lodge, which comprises of Epacha Game Lodge and Spa and the Eagle Tented Lodge on the Land. The lodge can accommodate a maximum of 74 people.

Relevant market: The merging parties submit that the relevant market is hospitality services, catering to up-market customers, within the radius from the Andersson Gate at Etosha. 

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