Tribunal approves merger in the market for the provision of
rentable industrial property
The Tribunal has approved, without conditions, the large merger whereby Orviscene (Pty) Ltd (“Orviscene”) will acquire a rental enterprise property from Makrogate Limited (“Makrogate”). The Tribunal has found that the transaction is unlikely to substantially prevent or lessen competition in any market. In addition, the merger does not raise any public interest concerns.
Orviscene, a South African firm, is controlled by Emerging African Property Partners Proprietary Limited ("EAPP"). EAPP is, in turn, controlled by the Government Employee Pension Fund ("GEPF") and Emerging African Property Holdings Proprietary Limited ("EAPH”).
The primary target firm is Makrogate in respect of the rental enterprise conducted on a property in Brackenfell, in the City of Cape Town. Makrogate is a property holding company that does not control any firm.
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