Description of Activities

Description of transaction: The proposed transaction involves the acquisition by Namibia Mineworkers Properties (Pty) Ltd of Erf No. 2537, Otjiwarongo, form the liquidator of Boskop Investments CC.

Acquiring group: The primary acquiring undertaking is Namibia Mineworkers Properties (Pty) Ltd, incorporated in terms of the laws of Namibia, with its principal place of business at 5 Adler Street, Windhoek, Namibia. The primary acquiring undertaking is a real estate investment, development, and property management company. On the balance, the acquiring group is a diversified Namibian conglomerate with interests in various industries, including finance, properties, agriculture, mining, transportation, and tourism.

Target undertaking: The primary target asset is Erf No 2537, Otjiwarongo, zoned “business” and situated at the corner of Dr Libertina Amathila Avenue and Tuin Road, Otjiwarongo, Namibia. The target property generates its turnover from a number of rental agreements with third parties.

Relevant market: The merging parties submit that the relevant market is defined as immovable property zoned as business.

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