Merger Alert: Outcome of mergers decided by the Tribunal - 7 March 2023
| Type of matter | Parties involved | Tribunal Decision |
| Large merger | Cape Town Biogas (Pty) Ltd and New Horizons Waste to Energy (RF) (Pty) Ltd | Approved with conditions |
| Large merger | Growthpoint Student Accommodation Holdings (RF) Ltd and Feenstra Group Developments (Pty) Ltd in respect of the immovable property and letting enterprise known as Brooklyn Studios | Approved without conditions |
Cape Town Biogas (Pty) Ltd and New Horizons Waste to Energy (RF) (Pty) Ltd
The Tribunal has approved the proposed transaction, whereby Cape Town Biogas (Pty) Ltd (“CTB”) intends to acquire New Horizons Waste to Energy (RF) (Pty) Ltd (“NHE”), with conditions that seek to promote a greater spread of ownership by historically disadvantaged individuals (“HDPs”) or workers in firms in the market, as contemplated in the Competition Act.
The acquiring group, a private equity fund with a diverse portfolio, invests in businesses engaged in clean and renewable energy projects in Africa. Its activities in the waste management sector are relevant to the proposed merger.
NHE is an anaerobic digestion plant that processes municipal and organic waste streams into an environmentally friendly, renewable energy source called “biogas”. The biogas is purified by NHE and is split into biomethane (sold as a clean substitute to natural gas) and carbon dioxide (used primarily in the beverage, water treatment, fire suppression, dry ice production and refrigeration industries).
A full press release will follow in due course.
Growthpoint Student Accommodation Holdings (RF) Ltd and Feenstra Group Developments (Pty) Ltd in respect of the immovable property and letting enterprise known as Brooklyn Studios
The Tribunal has unconditionally approved the merger whereby Growthpoint Student Accommodation Holdings (RF) Ltd (“GSAH”) intends to acquire the immovable property and letting enterprise known as “Brooklyn Studios” from Feenstra Group Development (Pty) Ltd (“Feenstra”).
GSAH is a real estate investment trust which invests exclusively in purpose-built student
accommodation. Brooklyn Studios is purpose-built student accommodation located in Brooklyn, Pretoria.
Issued by:
Gillian de Gouveia, Communications Officer
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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