Thebe acquires additional shareholding in grape and citrus
producer, exporter
The Tribunal has approved the large merger whereby Thebe SPV (Pty) Ltd (Thebe SPV) is acquiring additional shareholding in Schoonbee Nation Building (Pty) Ltd (SNB). The transaction will result in SNB being jointly controlled by Thebe SPV and Schoonbee Beleggings (Pty) Ltd.
Thebe SPV is controlled by Thebe Investment Corporation (Pty) Ltd, an investment holding and management company with its main interests in the energy and resources sector.
SNB is an investment holding company. Through its subsidiaries, SNB is a grape and citrus producer and exporter based in Limpopo.
The Commission, which assesses large mergers before referring them to the Tribunal for a decision, found that the transaction does not raise any competition or public interest concerns. The Commission recommended that the merger be approved without conditions.
Tribunal approves merger whereby Investec Property Fund sells
Musina Mall, Great North Plaza
Luvon Investment (Pty) Ltd (Luvon Investment) and Changing Tides 91 (Pty) Ltd (Changing Tides 91) will acquire Musina Mall and Great North Plaza, regional shopping centres in Musina, from Investec Property Fund Limited (Investec Property Fund).
The Tribunal has approved the proposed transaction without conditions. The transaction does not raise any competition or public interest concerns.
Luvon Investments is a property investment company that invests in commercial and retail assets throughout South Africa. The Moolman Group, which ultimately controls Luvon Investments, is involved in management and letting of commercial and retail properties and the development of such properties.
Changing Tides 91 is controlled by RMS Assets (Pty) Ltd. RMS Assets (Pty) Ltd is controlled by Flanagan & Gerald Group (Pty) Ltd, a holding company with various subsidiaries which controls a diversified retail property portfolio.
Spar Group acquires issued share capital in Monteagle Africa
The Tribunal has approved the proposed large merger whereby the Spar Group Ltd (Spar Group) will acquire issued share capital in Monteagle Africa Ltd (Monteagle), which will allow Spar Group to exercise joint control over Monteagle post-transaction.
Spar Group is a public company incorporated in South Africa and listed on the Johannesburg Securities Exchange. It conducts wholesaling and retailing operations throughout South Africa and operates as the franchisor of the Spar Brand in the country.
Monteagle sources and distributes general merchandise items for Spar Group’s private label. It targets small suppliers otherwise unable to directly supply Spar Group and assists them with transportation, warehousing & packaging. Spar Group is Monteagle’s only South African customer.
In its assessment of the transaction, the Commission found there were no competition or public interest concerns and recommended approval of the transaction without conditions.
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