The Competition Tribunal has unconditionally approved the proposed merger which entails the repurchasing of shares, in a series of indivisible transactions, by Thebe Investment Corporation (Pty) Ltd (“TIC”) from the Batho Batho Trust (“BBT”), as well as various employee shareholding schemes.
 
TIC is an investment holding and management company. The TIC Group’s interests, which are primarily South African based, consist mainly of investments in the energy and resources division (comprising power and water, oil and gas, mining, and chemicals business units) and services division (comprising investments in property and financial services, food and logistics services, and media as well as telecommunication business units).

BBT is a community-based trust engaged in asset holding for the benefit of community-based beneficiaries, education and charitable objectives, any other body, company, trust or organisation that operates principally in South Africa. BBT does not conduct any business activities of its own in South Africa or elsewhere.