Merger Alert: Outcome of mergers decided by the Tribunal - 16 February 2024

 16 February 2024

 

The following Merger Alert is for information purposes only and is not binding on the Competition Tribunal or any member of the Tribunal

 

Type of matter

Parties involved

Tribunal Decision

Large merger

Hemipac Investments (Pty) Ltd And Ascension Properties (Pty) Ltd in respect of the portfolio of 10 property rental enterprises

Approved with conditions

Large merger

Barkophor Investments (Pty) Ltd And Izandla Property Fund (Pty) Ltd in respect of the letting enterprise known as Sasol DC

Approved without conditions


Hemipac Investments (Pty) Ltd And Ascension Properties (Pty) Ltd in respect of the portfolio of 10 property rental enterprises

 

The Competition Tribunal (“Tribunal”) has approved, subject to a procurement-related condition, the merger whereby Hemipac Investments (Pty) Ltd (“Hemipac Investments”) intends to acquire, as a going concern, 10 property rental enterprises (“target properties”) from Asencion Properties (Pty) Ltd (“Ascension”), in a single indivisible transaction.

 

Hemipac Investments is a wholly owned subsidiary of SKG Africa (Pty) Ltd (“SKG Africa”). The firms forming part of the SKG Group (Hemipac Investments, its controlling entities and all the firms controlled by its controlling entities) are primarily involved in developing and leasing commercial, industrial, retail and office investment properties, including the management of properties.

 

Ascencion is wholly owned by Rebosis Property Fund Ltd (“Rebosis”), a Real Estate Investment Trust (REIT) listed on the Johannesburg Stock Exchange (“JSE”). The target properties are ultimately controlled by Rebosis, which owns a diverse property portfolio in South Africa comprising retail, office, and industrial properties.

 


Barkophor Investments (Pty) Ltd And Izandla Property Fund (Pty) Ltd in respect of the letting enterprise known as Sasol DC

 

The Tribunal has unconditionally approved the merger wherein Barkophor Investments (Pty) Ltd (“Barkophor Investments”) intends to acquire the letting enterprise known as Sasol DC (“target property”) from Izandla Property Fund (Pty) Ltd (“Izandla Property Fund”).

 

Barkophor Investments is a property investment company.

 

The target property is a light industrial property located in Sasolburg, in the Free State Province.

 

 


Issued by:

Gillian de Gouveia, Communications Manager
On behalf of the Competition Tribunal of South Africa
Cell: +27 (0) 82 410 1195
E-Mail: GillianD@comptrib.co.za
Twitter: @comptrib


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