| Type of matter | Parties involved | Tribunal Decision |
|---|---|---|
| Large Merger | Future Indefinite Investments 180 (Pty) Ltd And The Trustees for the time being of the Truzen 55 Trust in respect of the rental enterprise known as 140 North Reef Road | Approved with conditions |
The Competition Tribunal (“Tribunal”) has approved the proposed merger whereby Future Indefinite Investments 180 (Pty) Ltd ("Future Indefinite") intends to acquire a rental enterprise known as 140 North Reef Road (“target property”) from Truzen 55 Trust (“Truzen”). The Tribunal has imposed conditions on the proposed merger which involve procurement of certain services from suppliers owned by historically disadvantaged persons (“HDPs”). Following the implementation of the proposed transaction, Future Indefinite will exercise sole control over the target property.
Future Indefinite is wholly owned by The Kacilo Trust. The acquiring group (Future Indefinite, The Kacilo Trust and any firms directly or indirectly controlled by these firms) is a property investment company. Of relevance to this proposed transaction is that the acquiring group owns 15 light industrial properties.
The target property is a large light industrial office property situated in Germiston, in Gauteng. It also has adjoining office property which is for the exclusive use of the tenants.
Issued by:
Gillian de Gouveia, Communications Manager
On behalf of the Competition Tribunal of South Africa
Cell: +27 (0) 82 410 1195
E-Mail: GillianD@comptrib.co.za
Twitter: @comptrib
Back to Media Releases