The Tribunal has approved, without conditions, the proposed large merger whereby Fortyellow (Pty) Ltd t/a Fortwood (“Fortwood”) will acquire the entire issued share capital of DSV Real Estate Johannesburg (Pty) Ltd (“DSV”).
 
Fortwood is a special broad-based black economic empowerment (“B-BBEE") vehicle established for the purpose of this transaction. It is controlled by Capital Propfund (Pty) Ltd and YW Investments (Pty) Ltd t/a YW Capital. The acquiring group is constituted of property ownership firms with a portfolio of immovable properties and rental enterprises throughout the country. Its portfolio is spread across the logistics / industrial, retail and office sectors.
 
DSV is wholly owned by DSV Africa Holding (Pty) Ltd which is, in turn, ultimately wholly owned by DSV Panalpina A/S. DSV's business is constituted of its sole underlying asset, being the immovable property to be developed into a separate and distinct rental enterprise which will be known as "DSV Park" once complete, situated in Kempton Park in Gauteng.
 
The Tribunal found that the proposed transaction does not raise any competition or public interest concerns and therefore approved the transaction without conditions.

The Tribunal has unconditionally approved the large merger whereby a special purpose company incorporated in South Africa, Main Street 1788 (Pty) Ltd (“Main Street”), will acquire Octotel (Pty) Ltd (“Octotel”).
 
The Tribunal has found that the proposed transaction is unlikely to substantially prevent or lessen competition in any market. In addition, the proposed transaction does not raise any public interest concerns.
 
Main Street is ultimately controlled by Actis LLP (“Actis”), a limited liability partnership registered in England. The Actis Group (Actis and the firms it controls) is a global private equity investment group which invests in emerging markets including Africa, China, India, Latin America and South East Asia. Its investment focus is primarily on the consumer, healthcare, financial services, industrial, energy, education and real estate sectors.
 
Octotel, a South African firm, operates an open access fibre network. Its activities in this regard include the building, owning, maintaining and leasing of fibre networks, with a focus on providing Fibre to The Home ("FTTH") and Fibre to The Business ("FTTB"). Octotel operates in the greater Cape Town metropole. It operates as an independent fibre provider and rolls out its fibre network in partnership with community and local internet service providers ("ISPs").

The Tribunal has approved, without conditions, the transaction whereby Corvest 12 (Pty) Ltd (“Corvest 12”) will acquire certain additional minority protections through their shareholding in Alternative Power (Pty) Ltd (“Alternative Power”). Upon implementation of the proposed transaction, Corvest 12 will be able to exercise control over Alternative Power, as envisaged by section 12(2)(g) of the Competition Act 89 of 1998, as amended.
 
Corvest 12 currently holds shares in Alternative Power and, in terms of the proposed transaction, will exercise its rights under the Alternative Power shareholders agreement to acquire control of Alternative Power.
 
Corvest 12 is an on-balance sheet provider of private equity for mid-sized management buy-outs, leveraged buyouts, development capital and funded black economic empowerment solutions. It ultimately forms part of the FirstRand Group, which through its various financial services franchises, provides a universal set of transactional, lending, investment and insurance products and services.
 
Alternative Power manufactures and sells energy drinks, energy bars and energy rolls under the brand “Switch”, to wholesalers, distributors and retailers. However, it does not sell any of its products directly to end customers. Alternative Power trades throughout South Africa and also exports its products to certain neighbouring countries from time to time.
 
The Tribunal has found that the proposed transaction is unlikely to substantially lessen or prevent competition in any market in South Africa. In addition, the proposed transaction does not raise any public interest concerns.