NaCC investigates King Price, Deep Catch acquisition

The Namibian Competition Commission (NaCC) is currently investigating nine mergers, with short-term insurer King Price and Deep Catch among some of the companies targeted.

 A schedule from the NaCC shows that Mergon Foundation NPC, a not-for-profit trust fund with investment in businesses operating across multiple industries, has targeted to acquire the short-term insurer. 

Mergon is a founding investor in King Price when it entered the South African short-term insurance market in 2012.  

Deep Catch Namibia Holdings (Pty) Ltd, which specialises in the import and export, wholesale, distribution, and supply of perishable food products such as  meat, fish and poultry, has been targeted for acquisition by South Africa’s Imperial Capital Ltd for an undisclosed amount. 

Imperial Capital, is  100% owned by  Imperial Logistics, a public company listed on the Johannesburg Stock Exchange and the holding company of Imperial’s African businesses, with businesses ranging from transportation, distribution, and logistics services. 

Imperial Logistics and its various subsidiaries, collectively known as Imperial Group of Companies, are the transport and logistics providers in various African countries, and also providers of contract logistics and freight services in Europe and the United Kingdom. 

French company, InnoVent is also seeking  approval from the NaCC to acquire Quantum Power Namibia B.V, a Netherlands registered company currently in the process of developing a 44MW electricity generating plant project through wind generators. 

InnoVent is an independent company which installs and operates wind and solar farms in France and Africa.  

“Kindly note that due to the processes and procedures that we have to follow with due diligence regarding mergers under investigation, reaching determinations requires time,” NaCC Spokesperson, DinaGowases told The Brief.




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Last modified on Wednesday, 13 October 2021 19:17

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