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Merger Alert
Date of release: 21 February 2022
Type of matter Parties involved Tribunal decision
Large merger Capital Propfund (Pty) Ltd and Inospace (Pty) Ltd And Knoxco 10 Properties (Pty) Ltd Approved with conditions
Capital Propfund (Pty) Ltd and Inospace (Pty) Ltd
And Knoxco 10 Properties (Pty) Ltd
The Tribunal has conditionally approved the joint venture transaction wherein Capital Propfund (Pty) Ltd ("Capital") and Inospace (Pty) Ltd ("Inospace") intend to jointly control Knoxco 10 Properties (Pty) Ltd.
The Tribunal has approved the proposed transaction subject to conditions which seek to remedy concerns around the potential exchange of competitively sensitive information.
Capital and Inospace are ultimately controlled by Fortress REIT Limited (“Fortress”) and The Taurus Trust (“Taurus”), respectively. The Fortress Group comprises property ownership firms. Its portfolio includes immovable properties and rental enterprises across South Africa. The Taurus Group owns industrial, storage and office space through Inospace.
The primary target firm is Knoxco 10 Properties (Pty) Ltd (which is to be known as "Inofort"). Inofort is a private joint venture company formed for purposes of this proposed transaction and currently does not have any activities. Post-merger, Inofort will wholly own immovable commercial properties contributed by the joint venture partners.
Issued by:

Gillian de Gouveia, Communications Officer
On behalf of the Competition Tribunal of South Africa
Tel: +27 (0) 12 394 1383
Cell: +27 (0) 82 410 1195
Twitter: @comptrib
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