Tribunal approves Teraco Properties’ acquisition of vacant industrial land in Cape Town
The Competition Tribunal has unconditionally approved a transaction that will see Teraco Properties (Pty) Ltd (“Teraco Properties”) acquire sole control of vacant industrial land situated in Brackenfell, in Cape Town.
Teraco Properties, a private company incorporated in South Africa, is ultimately controlled by Digital Realty Trust Inc ("Digital Realty"), a public company listed on the New York Stock Exchange. Digital Realty is a global technology provider of data centre platforms, colocation and interconnection solutions to customers across a variety of industries. These range from cloud and information technology services, communications and social networking to financial services, manufacturing, energy, healthcare and consumer products. Teraco Properties’ investments in industrial property in the City of Cape Town are relevant to this transaction.
The vacant industrial land is zoned for general industrial use. No business is currently conducted on the property.