Description of Activities

Description of transaction: The proposed transaction involves the acquisition by EuroOptic Africa Investments (Pty) Ltd (“EuroOptic Africa”) of the entire share capital in Outdoor Investment Holdings (Pty) Ltd (“Outdoor Investment”) with its subsidiary Adventure Distribution Centre (Pty) Ltd (“Adventure Distribution”). Post-merger, EuroOptic Africa will control Outdoor Investment and Adventure Distribution. 

Acquiring group: The primary acquiring undertaking is EuroOptic Africa, a company incorporated in terms of the laws of South Africa, and it controls Whylo Distributors (Pty) Ltd (“Whylo”). EuroOptic Africa is owned and controlled by EuroOptic Africa Holdings LLC, a company incorporated in the USA. The acquiring group is only active in Namibia through Whylo, which exports optical instruments, including rifle scopes, binoculars, rangefinders, and spotting scopes, among others, to Namibia. 

Target undertaking: The primary target undertaking is Outdoor Investment, a company incorporated in terms of the laws of South Africa, and it controls Adventure Distribution, a Namibian-incorporated company. The primary target undertaking is involved in the retail, wholesale, and distribution activities in South Africa, and it is active in Namibia through Adventure Distribution, which operates as a wholesaler/distributor, supplying products to customers in the Namibian outdoor, hunting, and lifestyle sector. 

Relevant market: The merging parties submit that the relevant market is the wholesale and distribution of outdoor, hunting, lifestyle, and related products in Namibia. 

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