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Merger Alert

 

Date of release: 14 March 2022

 

 

OUTCOME OF MERGERS DECIDED BY THE TRIBUNAL

 

 

Type of matter Parties involved Tribunal decision

 

Large merger            SKG Properties Fund I (Pty) Ltd And Redefine Properties Limited In Respect Of The Properties Known As 34 Wrench Road And Pepkor Isando: Aproved without conditions

Large merger            UBI General Partner (Pty) Ltd And CSG Holdings Limited: Approved without conditions

SKG Properties Fund I (Pty) Ltd And Redefine Properties Limited In Respect Of The Properties Known As 34 Wrench Road And Pepkor Isando

 

The Tribunal has unconditionally approved the large merger wherein SKG Properties Fund I (Pty) Ltd (“SKG Properties Fund I”) intends to acquire the properties known as 34 Wrench Road and Pepkor Isando from Redefine Properties Limited (“Redefine”). Upon conclusion of the proposed transaction, SKG Properties Fund I will have sole control of 34 Wrench Road and Pepkor Isando.

 

SKG Properties Fund I forms part of the SKG Group. The companies comprising the SKG Group are engaged in the development and leasing of commercial, industrial and retail investment properties and the management thereof.

 

The target firm is Redefine Properties Limited (“Redefine”) in respect of the properties known as 34 Wrench Road and Pepkor Isando. Redefine is a property loan stock company which currently holds REIT status and is listed on the JSE in the “diversified REITS” sector. The target properties both comprise rentable light industrial space.

 

UBI General Partner (Pty) Ltd And CSG Holdings Limited

 

The Tribunal has unconditionally approved the large merger whereby UBI General Partner (Pty) Ltd (“UBI”) intends to acquire control over CSG Holdings Limited (“CSG”).

 

The acquiring group is an investment holding entity with investments in various sectors including financial services, real estate, auto parts, mining and construction. Of relevance to this merger is the acquiring group’s activities through RSA Group, a marketer and agent of locally produced fresh produce (fruit and vegetables) across South Africa.

 

The target group provides facilities management (cleaning, catering, maintenance and security services), security equipment, access control and staffing solutions. Its catering activities involve the operation of canteens and restaurants across South Africa.

 

Issued by:

 

Gillian de Gouveia, Communications Officer

On behalf of the Competition Tribunal of South Africa

Tel: +27 (0) 12 394 1383

Cell: +27 (0) 82 410 1195

E-Mail: GillianD@comptrib.co.za

Twitter: @comptrib

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