Merger Alert: Outcome of mergers decided by the Tribunal - 2 April 2025
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 | Refiber (Pty) Ltd and Onepath Investments (RF) (Pty) Ltd and dark fiber networks to be developed by Fibertime Networks (Pty) Ltd | Approved without conditions |
| Large merger | Dubai Aerospace Enterprise (DAE) Ltd and Nordic Aviation Capital Designated Activity Company | Approved without conditions |
Refiber (Pty) Ltd and Onepath Investments (RF) (Pty) Ltd and dark fiber networks to be developed by Fibertime Networks (Pty) Ltd
The Competition Tribunal (“Tribunal”) has unconditionally approved the proposed merger whereby Refiber (Pty) Ltd (“Refiber”) and Onepath Investments (Pty) Ltd (“OPI”) will acquire the dark fibre networks to be developed by Fibertime Networks (Pty) Ltd (“Fibertime”), in accordance with a roll out strategy in informal townships (referred to as the “target assets”). Post-merger, the target assets will be controlled by Refiber and OPI.
The acquiring parties have been created as an alternative source of funding for the development of fibre infrastructure to low-income communities, particularly townships and informal settlements. In this respect, Refiber has been set-up as a capital raising vehicle to fund the future roll-out of fibre network developments and has nominated OPI as a special purpose vehicle through which it will raise the necessary capital and acquire the target assets from Fibertime. Fibertime operates as a fibre network operator and internet service provider catering specifically to South Africa’s township market.
Dubai Aerospace Enterprise (DAE) Ltd and Nordic Aviation Capital Designated Activity Company
The Tribunal has unconditionally approved the proposed merger in which Dubai Aerospace Enterprise (DAE) Limited (“Dubai Aerospace”) intends to acquire Nordic Aviation Capital Designated Activity Company (“Nordic Aviation”). Following the implementation of the proposed merger, Dubai Aerospace will wholly own and control Nordic Aviation.
Dubai Aerospace is registered in Dubai, in the United Arab Emirates. It is ultimately owned and controlled by the Investment Corporation of Dubai, the principal investment arm of the Dubai Government. Dubai Aerospace leases civil aviation and freighter aircraft globally and is active in the dry leasing of aircraft i.e. leasing aircraft without a crew.
Nordic Aviation, registered in Ireland, also specialises in leasing civil aviation aircraft. It operates globally and focuses on dry leasing regional and narrowbody aircraft to airlines.
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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