| Type of matter | Parties involved | Tribunal Decision |
|---|---|---|
| Large merger | Burstone Group Limited; Flanagan and Gerard Frontiers (Pty) Ltd And Investec Property (Pty) Ltd in respect of the rental enterprise known as The Neighbourhood Square | Approved without conditions |
| Large merger | Arzatouch (Pty) Ltd And Equites Property Fund Limited | Approved without conditions |
The Competition Tribunal (“Tribunal”) has unconditionally approved the merger wherein Burstone Group Limited (“Burstone”) and Flanagan and Gerard Frontiers (Pty) Ltd (“F&G Frontiers”) seek to jointly acquire the rental enterprise known as The Neighbourhood Square from Investec Property (Pty) Ltd, as a going concern.
Burstone, a Real Estate Investment Trust (“REIT”) listed on the Johannesburg Stock Exchange (“JSE”), owns properties in various sectors of the South African property market. F&G Frontiers is a property investment company. The core business of the F&G Group is the development of and investment in retail property. The Neighbourhood Square is a neighbourhood centre comprising retail space. It is situated in Johannesburg, in Gauteng.
Arzatouch (Pty) Ltd And Equites Property Fund LimitedThe Tribunal has unconditionally approved the merger whereby Arzatouch (Pty) Ltd (“Arzatouch”) intends to acquire a 50% undivided share of the rights held by Equites Property Fund Limited (“Equites”) in a light industrial property known as “Amrod” (the “target property”). Following the implementation of the proposed merger, the target property will be jointly controlled by Arzatouch and Attacq Waterfall Investment Company (Pty) Ltd (“Attacq Investment”).
The acquiring group controls several firms through which it conducts activities involving property rental, agriculture, financial services, manufacturing, renewable energy, and transport and logistics, among others. Its light industrial property activities in Gauteng are of relevance to this merger. The target property is located in Midrand, in Gauteng. Equities is a REIT listed on the JSE.
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
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