South Africa Competition Tribunal: Approves Benus, Resilient Mergers

Competition Tribunal approves Benus takeover of Forever Resorts The Competition Tribunal (“Tribunal”) has unconditionally approved the proposed acquisition of Forever Resorts SA (Pty) Ltd (“Forever Resorts SA”) by Benus Trade and Invest (Pty) Ltd (“Benus”), clearing the way for Benus to take sole control of Forever Resorts SA. Benus, together with the firms that control it and those it controls, is a 100% black-owned conglomerate with interests across a range of sectors, including healthcare, ICT, power and energy, mining, logistics and infrastructure. The group operates in South Africa, Cameroon, Botswana, Zimbabwe and Namibia. Forever Resorts SA and its subsidiaries operate a portfolio of resorts and lodges across Limpopo, Mpumalanga, the Western Cape and the Free State. Its properties offer accommodation, conference facilities, recreational amenities and eco-tourism experiences. Tribunal approves Resilient’s acquisition of Mams Mall The Tribunal has unconditionally approved Resilient Properties (Pty) Ltd’s (“Resilient”) acquisition of Mams Mall in Mamelodi, Gauteng, paving the way for the retail centre to come under Resilient’s sole control. The transaction involves the acquisition, as a going concern, of the immovable property and rental enterprise from NAD Property Income Fund (Pty) Ltd. Resilient forms part of a wider group that owns and manages a portfolio of retail centres, specialising in developing new and existing retail centres. In Gauteng, the group owns retail centres ranging from small regional centres to regional shopping centres. Mams Mall is a regional shopping centre located in Mamelodi, in Gauteng, serving the surrounding community through its retail offering.