Merger Alert: Outcome of mergers decided by the Tribunal - 4 July 2025
4 July 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 | Nedbank Ltd, acting through its Nedbank Corporate and Investment Banking Division, Property Partners And Citosolve Investments (Pty) Ltd | Approved without conditions |
| Large merger | Fedgroup Smart Agri Fund (Pty) Ltd And Forward Finance Holdings (Pty) Ltd | Approved with conditions |
Nedbank Ltd, acting through its Nedbank Corporate and Investment Banking Division, Property Partners And Citosolve Investments (Pty) Ltd
The Competition Tribunal (“Tribunal”) has unconditionally approved the proposed merger in which Nedbank Ltd (“Nedbank”), through its Nedbank Corporate and Investments Banking Division, Property Partners (“NPP”), will acquire a specified percentage of the shares and claims in Citosolve Investments (Pty) Ltd (“Citosolve”). Upon implementation of the proposed merger, Nedbank will exercise joint control over Citosolve.
Nedbank offers a diversified range of financial services, including corporate and retail banking, securities trading, investment banking, private banking, foreign exchange, wealth management and property. Through NPP, Nedbank holds interests in various properties. Its involvement in residential property in Gauteng and residential student accommodation in the Western Cape is relevant to this transaction.
Citosolve is a property investment firm with a portfolio comprising residential properties located in Gauteng and the Western Cape.
Fedgroup Smart Agri Fund (Pty) Ltd And Forward Finance Holdings (Pty) Ltd
The Tribunal has conditionally approved the proposed merger in which Fedgroup Smart Agri Fund (Pty) Ltd (“Fedgroup”) will acquire a specified percentage of the issued share capital of Forward Finance Holdings (Pty) Ltd (“FFH”). Following the merger, Fedgroup will own and exercise sole control over FFH and its subsidiaries.
The Tribunal has approved the transaction subject to public interest conditions involving ownership.
Fedgroup is a diversified financial services company offering a wide range of financial solutions including pension and provident funds, life insurance, trusts, commercial property financing and asset management.
FFH, through its operating entities, provides tailored financial solutions for farmers – primarily offering working capital to farmers/growers, with a cession of crop proceeds as security.
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
Back to Press Releases
