Description of Activities

Description of transaction: The proposed transaction concerns 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.  The acquiring group has no business activities in Namibia.

Target undertaking: 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: The merging parties submit that the relevant market is the market for the provision of rolling stock leasing solutions in Namibia.

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