Merger Alert: Old Mutual Rental Housing Investment Fund Two Ltd and the residential rental enterprise properties known as Stepney Green and Little Manhattan
Notice
The following Merger Alert is for information purposes only and is not binding on the Competition Tribunal or any member of the Tribunal
Lead Text
The Competition Tribunal (“Tribunal”) has unconditionally approved the proposed merger wherein Old Mutual Rental Housing Investment Fund Two Ltd (“OMRENT”) intends to acquire two properties known as Little Manhattan and Stepney Green, respectively. Following the implementation of the proposed transaction, OMRENT will control the properties.
Type of matter
Large merger
Parties involved
Old Mutual Rental Housing Investment Fund Two Ltd and the residential rental enterprise properties known as Stepney Green and Little Manhattan
Tribunal Decision
Approved without conditions
Issued By
Gillian de Gouveia, Communications Manager
On behalf of the Competition Tribunal of South Africa
The Competition Tribunal (“Tribunal”) has unconditionally approved the proposed merger wherein Old Mutual Rental Housing Investment Fund Two Ltd (“OMRENT”) intends to acquire two properties known as Little Manhattan and Stepney Green, respectively. Following the implementation of the proposed transaction, OMRENT will control the properties.
OMRENT is controlled by Old Mutual Life Assurance Company (South Africa) Ltd. The acquiring group has a significant national property portfolio which includes light industrial, office, retail and residential property developments and property letting enterprises.
The Little Manhattan residential property is located in Lotus Gardens, in the City of Tshwane, in Gauteng. Stepney Green, also a residential property, is located in Parklands, in Cape Town, in the Western Cape.
