Merger between Amdec Investments Culemborg Investment Properties approved

18 JANUARY 2017

The Competition Tribunal has approved the merger between Amdec and Culemborg Investment Properties, a property letting company offering specialised retail rental. Post-merger Amdec will control Culemborg.

The primary acquiring firm Amdec group is a privately-owned property development and investment business. It owns a portfolio of immovable properties and property letting enterprises and actively operates within the property development sphere in South Africa focusing on residential estates, office space and mixed use developments.

The target firm Culemborg Investment Properties, jointly controlled by Absa Bank Ltd and Amdec, is a speciality retail property letting enterprise. Culemborg Investment Properties’ speciality retail property is let to several tenants who operate as motor dealerships or showrooms.

The Tribunal has approved the merger without conditions.

 

                Issued by:

                Chantelle Benjamin

                Communications: Competition Tribunal   

                Tel (012)394 1383                                     

                Cell: +27 (0) 73 007 5603  

               Twitter: @comptrib                                       

               E-Mail: chantelleb@comptrib.co.za

 

               On Behalf Of:

               Lerato Motaung                                                   

               Registrar: Competition Tribunal                                        

               Tel: (012) 394 3355                                             

               Cell: +27 (0) 82 556 3221                                              

               E-Mail: LeratoM@comptrib.co.za