Merger Alert: Outcome of mergers decided by the Tribunal - 24 February 2026

Tribunal approves Curro transaction involving Meridian Schools

The Competition Tribunal (“Tribunal”) has unconditionally approved a merger in which Curro will acquire the remaining shares in Campus and Property Management Company (Pty) Ltd (“CAPMAC”) that it does not already own and to obtain full control of the board of Meridian Operations Company NPC (RF) (“MOP”). Curro currently manages both entities under an existing management framework. Once the merger is implemented, Curro will move from joint to sole control of CAPMAC and will also assume sole control of MOP.

Curro is an independent private school group offering education from early childhood development (Grade R) through to Grade 12.

CAPMAC is the property holding company that owns the school buildings and boarding facilities used by the Meridian Schools, which form part of Curro’s broader schooling portfolio.

MOP is a non-profit company established to operate the Meridian Schools. It manages the educational programmes which follow the South African curriculum at primary and secondary level and employs the Meridian teaching and administrative staff.

Tribunal unconditionally approves Exemplar’s acquisition of Goldbroz

The Tribunal has unconditionally approved a merger in which Exemplar REITail Ltd (“Exemplar”) will acquire shares in Goldbroz Investments (Pty) Ltd (“Goldbroz”), giving it control of the firm.

Exemplar is a Johannesburg Securities Exchange-listed real estate investment trust. It owns and manages shopping centres, with a focus on those in under-serviced, peri-urban township and rural communities in South Africa. Its properties in Limpopo are relevant to the transaction.

Goldbroz controls various properties, including a small regional shopping centre in Limpopo, which is relevant to the merger.