Description of Activities

Description: The Commission resolved to approve without conditions the acquisition by Intertoll International Holdings B.V. of the entire issued share capital of GPR Leasing Africa Limited. 

Acquiring group: The primary acquiring undertaking is Intertoll International Holdings B.V., a company incorporated in accordance with the laws of the Netherlands. Intertoll is active in independent infrastructure development, maintenance provision, and toll operations, and is a European investor in motorway and rail infrastructure. Its activities include the design, development, and operation of toll and motorway infrastructure, as well as acting as a concessionaire, equipment supplier, asset manager, and provider of specialist consultancy services to the transportation and infrastructure sectors in Europe, with a particular focus on rail. 

Target undertakings: The primary target undertaking is GPR Leasing Africa Limited. GPR Leasing is a company incorporated in accordance with the laws of Mauritius that operates as a provider of innovative and cost-effective leasing solutions to the African rail and mining sectors, including providing access to capital-intensive rolling stock. GPR Leasing owns locomotives and wagons in several countries on the African continent, including Namibia.

Relevant market: Defined the relevant market as the market for the provision of rolling stock leasing solutions in Namibia.

Merger Determination

The Commission found the proposed transaction unlikely to result in the prevention or substantial lessening of competition or result in any undertaking to acquire or strengthen a dominant position in the market and did not raise any public interest concerns.

Furthermore, as per section 50 of the Act, these approvals do not relieve parties from complying with any other mandatory statutory approvals that any of the parties to the merger must comply with under Namibian laws. 

Merger Determination No.1 of 2026__