The Tribunal has conditionally approved the large merger wherein the Sasol Pension Fund intends to acquire an interest in the target property known as Ferndale on Republic from Luvon Investments (Pty) Ltd, PHG Property Holdings (Pty) Ltd and Park Road Trading 7 (Pty) Ltd.
 
The primary acquiring firm is the Sasol Pension Fund (“the Fund”) which is one of several retirement provision options for employees of Sasol South Africa Limited (and its affiliates) within South Africa. The Fund’s assets are invested in a variety of asset classes.
 
Luvon, the first seller, forms part of the Moolman Group which controls a diversified property portfolio that comprises retail, office and industrial properties throughout South Africa. PHG Property, the second seller, forms part of the PHG Group, which is primarily involved in the holding, management and letting of rentable retail properties. Park Road, the third seller, is a property holding company that is involved in the management and letting of retail property.
 
The target property, Ferndale on Republic, is a mixed-use development with both retail and office space in Randburg, Gauteng.
 
A full press release will be issued in due course.