Type of matter Parties involved Tribunal Decision
Large merger Bankenveld District City And Portion 5 of The Farm Bergvallei 37 C/O University of The Witwatersrand, Johannesburg Approved without conditions
Large merger Community Property Company (Pty) Ltd And Boitekong Mall c/o Luvon Investments (Pty) Ltd Approved without conditions
Large merger Zikhethele Trade 4 (Pty) Ltd And Nedbank Ltd in respect of Menlyn Maine Approved without conditions
Large merger Clientele Ltd And 1Life Insurance (RF) Ltd Approved with conditions
Bankenveld District City And Portion 5 of The Farm Bergvallei 37 C/O University of The Witwatersrand, Johannesburg

The Competition Tribunal (“Tribunal”) has unconditionally approved the merger wherein Bankenveld District City (Pty) Ltd (“Bankenveld”) intends to acquire Portion 5 of The Farm Bergvallei 37, Registration Division IR, Gauteng, known as the Frankenwald site (“target property”).

Bankenveld is a property development company formed for the purpose of acquiring the target property and improving it through township establishment and the installation of municipal services.

The target property is wholly owned by the University of the Witwatersrand (“Wits”) and consists of land known as the Frankenwald site, which is situated in Sandton, in Gauteng.

Community Property Company (Pty) Ltd And Boitekong Mall c/o Luvon Investments (Pty) Ltd

The Tribunal has unconditionally approved the merger wherein Community Property Company (Pty) Ltd (“CPC”) intends to acquire the Boitekong Mall in in the North-West, along with the letting enterprise carried out on the property.

CPC is a property holding and investment company which specialises in acquiring new and existing shopping centres that cater to the needs of underserviced communities throughout South Africa. It invests in retail properties both in township and rural locations countrywide.

The Boitekong Mall is a convenience shopping centre situated in Rustenburg, in the North-West.

Zikhethele Trade 4 (Pty) Ltd And Nedbank Ltd in respect of Menlyn Maine

The Tribunal has unconditionally approved the merger whereby Zikhethele Trade 4 (Pty) Ltd (“Zikhethele”) intends to acquire the letting enterprise known as Menlyn Maine (“target property”) from Nedbank Ltd (“Nedbank”).

Zikhethele is a property development, management and investment company. Its primary activity is to hold the property being purchased.

The target property comprises office space located in Pretoria, in Gauteng. Nedbank is a financial services provider with activities mainly in banking.

Clientèle Ltd And 1Life Insurance (RF) Ltd

The Tribunal has approved the proposed merger which envisages a share exchange agreement whereby Telesure Investment Holdings (Pty) Ltd (“TIH”) will sell 1Life Insurance (RF) Ltd (“1Life”) to Clientèle Ltd (“Clientèle”). In turn, Clientèle will, as part of one indivisible transaction, allot and issue a percentage of its own shares to TIH. Following the implementation of the proposed transaction, Clientèle will acquire control over 1Life and TIH will remain invested in 1Life.

The Tribunal has approved the transaction subject to conditions that address information exchange concerns.

The acquiring group (through Clientèle Life) is active in the provision of life insurance to retail consumers, targeting the emerging market and lower income segment. It also provides a limited range of non-life insurance products via Clientèle General.

1Life is a licensed life insurer and financial services provider. It provides life insurance products including life cover, dreaded disease and disability cover and funeral plans. 1Life also offers investment products that assist customers with long-term investments.

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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