Tribunal clears OOBA / OOBA Investments Holdings transaction
The Competition Tribunal (“Tribunal”) has unconditionally approved the merger in which Ooba (Pty) Ltd (“Ooba”) will increase its shareholding in Ooba Investment Holdings (Pty) Ltd (“OIH”).
Ooba controls a number of firms, with its core business focused on bond origination and aggregation services.
OIH offers personalised insurance products, primarily to homeowners and home loan customers. Its product range includes building and household contents insurance, vehicle insurance and bond protection cover.
Tribunal approves Stanlib Fund II acquisition of joint control in Cassava ADC
The Tribunal has unconditionally approved the merger in which STANLIB Infrastructure Fund II, represented by STANLIB Infrastructure GP 2 (Pty) Ltd (“STANLIB Fund II”) will acquire shareholding in Cassava Africa Data Centres SA (Pty) Ltd (“Cassava ADC”). Following the transaction, STANLIB Fund II will exercise joint control, with the possibility of acquiring sole control, over Cassava ADC.
STANLIB Fund II is a private infrastructure investment fund focused on broad-based infrastructure investments across sectors including renewable energy, rail, roads, water, storage, logistics and digital infrastructure.
Cassava ADC is a newly incorporated investment holding firm. The target group conducts private data centre operations in South Africa and, in certain instances, elsewhere in Africa.
Tribunal approves Super Group Holdings’ acquisition of stake in Dig firms
The Tribunal has unconditionally approved the merger in which Super Group Holdings (Pty) Ltd (“SGH”) will acquire shareholding in Dig Earthmoving (Pty) Ltd, Dig Mining (Pty) Ltd, Dig Civils (Pty) Ltd and Dig Plant Hire (Pty) Ltd (collectively, the “target group”). Following the transaction, the target group will be jointly controlled by SGH and its existing shareholder.
Super Group operates in the supply chain and logistics sector, providing services including supply chain management, vehicle dealership operation and fleet management.
The target group supplies plant and heavy machinery leasing services to the mining sector, with a fleet that includes earth movers, excavators, dump trucks and other mining equipment.