SA BidCo gets Tribunal approval to acquire Honoris Holdings

The Competition Tribunal has unconditionally approved the merger in which K2025283350 (South Africa) (Pty) Ltd (“SA BidCo”) will acquire Honoris Holdings Ltd (“HHL”). Following the merger, SA BidCo will have sole control of HHL.

SA BidCo is controlled by K2025324922 (South Africa) (Pty) Ltd (“SA HoldCo”), which will in turn be controlled by Old Mutual Private Equity SPV (Pty) Ltd and Mangro Holdings (Pty) Ltd (“Mangro”). Relevant to the transaction is Old Mutual’s activities in South Africa’s higher education sector through the South African College of Applied Psychology (Pty) Ltd, which offers qualifications in business management and human resource management.

Mangro operates in the education, real estate and financial services sectors. Through Shesha Books, it supplies books for undergraduate and post-graduate studies in business, management, finance and related fields. Mangro also leases property for commercial office and education facilities.

HHL and its subsidiaries operate in higher education in various countries including South Africa, Botswana, Eswatini, Namibia, Nigeria, Morocco and the United Kingdom. In South Africa, the group provides higher education through MANCOSA, RBS, Red & Yellow, FEDISA and TAS. Through RBS and MANCOSA, it offers qualifications in business management and human resource management.

 Tribunal approves Oakleaf 83’s acquisition of renewable energy project firms

The Tribunal has unconditionally approved the merger in which Oakleaf Investment Holdings 83 (Pty) Ltd (“Oakleaf 83”) will acquire the right to appoint the majority of directors to the boards of Oakleaf Investment Holdings 79 (RF) (Pty) Ltd (“Oakleaf 79”) and Firefly Investments 253 (RF) (Pty) Ltd (“Firefly”). Following the merger, Oakleaf 83 will have sole control over both firms.

The acquiring group is an international long-term savings, insurance, banking and investment group. Relevant to this transaction are its investments in renewable solar energy firms across South Africa, including Oakleaf 79 and Firefly, which operate solar photovoltaic projects (“solar PV”) supplying renewable solar energy to Eskom Holdings SOC Limited (“Eskom”).

Oakleaf 79 and Firefly are ring-fenced entities established to produce solar renewable energy for  Eskom under the Department of Electricity and Energy’s Independent Power Producer Procurement Programme. The firms own solar PV power plants in the Northern Cape and Free State.

 AFHCO approved to acquire Riversands Residential Apartments

The Tribunal has unconditionally approved the merger in which AFHCO Holdings (Pty) Ltd (“AFHCO”) will acquire Riversands Residential Apartments (Pty) Ltd (“Riversands”). Following the merger, AFHCO will exercise sole control over Riversands.

AFHCO specialises in leasing residential, retail, industrial and, to a lesser extent, office property across South Africa. Its residential property portfolio in Gauteng is relevant to this transaction.

Riversands operates in the property sector through a residential development known as “The Parks”. It comprises bachelor, two- and three-bedroom apartments located in Riverside, Johannesburg.