Description of Activities

Description of transaction: The transactions involve the acquisition of the entire shareholding of Olthaver & List Finance and Trading Corporation Ltd (“Olfitra”) in Cleanergy Solutions Namibia Proprietary Limited by H2 Infra NV. 

Acquiring group: The Primary Acquiring Undertaking is H2 Infra NV (“Infra”), a limited company duly incorporated in accordance with the laws of Belgium. Infra is a subsidiary of the CMB. Tech Group of companies. The Acquiring Group is involved in the infrastructure design, development, and operations to produce, sell, and retail green hydrogen as well as maritime shipping transport and shipping operations in Belgium. In Namibia, the Acquiring Group has business activities in the field of cleantech and the production of clean sources of energy, real estate projects, and investments.

Target undertaking: The Primary Target undertaking is Cleanergy Solutions Namibia Proprietary Limited (“Cleanergy”), a limited company duly incorporated in accordance with the laws in Namibia. Cleanergy is dually owned and controlled by Olfitra (“the Seller”) and Infra (“the Acquiring Undertaking”). It comprises of a hydrogen production plant, the H2 Academy and office block.

Relevant market: The merging parties submit that the relevant market is the production of green hydrogen in Namibia.

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