South Africa Competition Tribunal Approves FPG's Constantia Emporium Acquisition

Tribunal approves FPG’s acquisition of Constantia Emporium The Competition Tribunal (“Tribunal”) has unconditionally approved a merger that will see FPG Holdings (Pty) Ltd (“FPG”) acquire sole control of the Constantia Emporium shopping entre and adjacent vacant land in Constantia, Cape Town. FPG forms part of a property investment and development group with interests across the commercial and residential property markets including office, retail and industrial property. Its retail portfolio includes neighbourhood shopping centres, a lifestyle centre and other retail developments. The transaction includes Constantia Emporium, the property on which it is situated and vacant land situated adjacent to the shopping centre. Tribunal approves transaction involving offshore oil and gas exploration The Tribunal has unconditionally approved a merger in which Impact Energies Ltd (“Impact Energies”) will acquire Impact Africa Ltd (“IAL”) and related assets involving offshore petroleum exploration rights along South Africa’s coast. Impact Energies is controlled by Deepkloof Ltd, which is ultimately a subsidiary of diversified South African investment group, Hosken Consolidated Investments Ltd (“HCI”). HCI has interests spanning energy, media and broadcasting, transport, property, hospitality and other sectors. The assets comprise participating interests in offshore oil and gas exploration rights. These rights permit exploration for petroleum within defined offshore areas but do not confer a production right. There is currently no commercial oil or gas production from the assets, which generate no output, sales or turnover.