Description of Activities

Description of transaction: The proposed transaction involves the acquisition by Carican Healthcare Namibia (Proprietary) Limited and Carican Olympia Property (Proprietary) Limited of three (3) immovable properties, to wit: Erf 36, Omeya, and Erf 610 and 611, Olympia, Hally Investment Three Thousand One Hundred and Eighty-Two (Proprietary) Limited.

Acquiring group: The primary acquiring undertakings are (1) Carican Healthcare Namibia (Proprietary) Limited, a company incorporated in terms of the laws of the Republic of Namibia with its business activities in to hold strategic equity stakes in Namibia Healthcare operation, and (2) Carican Olympia Property (Proprietary) Limited, a company incorporated in terms of the laws of the Republic of Namibia with its business activities to administer the acute mental health facility in Olympia, Namibia. 

Target undertaking: The primary target undertakings are Erf 36, Omeya, and Erf 610 and 611, Olympia, Namibia, as well as the shares of Greens Care Centre (Proprietary) Limited and shares in Hally Investment Three Thousand One Hundred and Eighty-Two (Proprietary) Limited. Erf 36, Omeya, and Erf 610, Olympia, are dormant and offer investment opportunities for mental health facilities. Erf 611, Olympia, is a residential property.

Relevant market: The merging parties submit that the relevant market is the property market for immovable property within the municipal area of Windhoek, zoned as “Business” in respect of Erf 36, Omeya, and the land zoned as “Institutional” in respect of Erf 610, Olympia.

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