Description of Activities

Description of transaction: The proposed transaction involves the acquisition by Southern Namibian Hake Fishing Industries (Pty) Ltd (“SNH”) of the issued share capital in Tuna Pole Fishing Namibia (Pty) Ltd (“Tuna Pole”) from Rob Chris Roger Holding Ltd (“RCR”).

Acquiring group: The primary acquiring undertaking is SNH incorporated in terms of the laws of the Republic of Namibia. SNH holds fishing quotas for hake and is therefore involved in fish-catching activities. SNH processes and packages the fish into export-grade products i.e. squid, hake etc., and exports to domestic and international markets. 

Target undertaking: The primary target undertaking is Tuna Pole incorporated in terms of the laws of the Republic of Namibia, it is engaged in fishing tuna in Namibian waters for its commercialisation and owns a motorised fishing vessel.

Relevant market: The merging parties submit that the relevant market is fishing and fish processing.

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