Tribunal approves Norfund transaction involving Nafasi Water Technologies

The Competition Tribunal (“Tribunal”) has unconditionally approved a merger that will see the Norwegian Investment Fund for Developing Countries (“Norfund”) acquire a minority interest in Nafasi Water Technologies (Pty) Ltd (“Nafasi Water”). Through this shareholding, Norfund will acquire minority shareholder protections that amount to control.

Norfund is a Norwegian state-owned development finance institution controlled by the Ministry of Foreign Affairs on behalf of the Norwegian Government. Its mandate is to support sustainable business development in developing countries, as a means of promoting economic growth and reducing poverty. It focuses its investments on clean energy, financial inclusion, green infrastructure (including water, waste and digital) and scalable enterprises. 

Nafasi Water is a privately owned South African firm that operates locally and in Namibia. It provides integrated water and wastewater treatment services across the full project lifecycle, including project development, financing, design, engineering, construction, operations and maintenance. Its activities focus on water reclamation and desalination technologies for industrial and wastewater systems, ensuring that industries, municipalities and communities have sustainable and reliable access to water.

 

Tribunal approves Future Indefinite’s acquisition of mall in Sea Point

The Tribunal has unconditionally approved the merger in which Future Indefinite Investments 180 (Pty) Ltd (“Future Indefinite”) will acquire the rental enterprise known as The Point Mall (“the Mall”) from Permasolve Investments (Pty) Ltd (“Permasolve Investments”) as a going concern. Following the merger’s implementation, Future Indefinite will have control over the Mall.

Future Indefinite forms part of a broader property investment group with interests across the restaurant, retail, office, hospitality, residential, industrial warehouse and vacant land sectors. Of relevance to the transaction are the group’s retail and office properties in the Western Cape.

The Mall is a mixed-use property located in Sea Point, Cape Town, comprising retail space and A-grade office accommodation.