The Competition Tribunal has approved the merger between Amdec and Culemborg Investment Properties, a property letting company offering specialised retail rental. Post-merger Amdec will control Culemborg.
The primary acquiring firm Amdec group is a privately-owned property development and investment business. It owns a portfolio of immovable properties and property letting enterprises and actively operates within the property development sphere in South Africa focusing on residential estates, office space and mixed use developments.
The target firm Culemborg Investment Properties, jointly controlled by Absa Bank Ltd and Amdec, is a speciality retail property letting enterprise. Culemborg Investment Properties’ speciality retail property is let to several tenants who operate as motor dealerships or showrooms.
The Tribunal has approved the merger without conditions.