Mr Cheap owners invest in property firm
SOME IMPORTANT BUSINESS DATES:
Friday
Auctions galore
Spoilt for choice.
That will be the case for bidders as several auctions will be spread across the country this coming Friday.
Office equipment that include furniture and computers will be sold as one lot, a place known as Plot No. 125 at Soofie Complex in Manzini, starting at 10am. At the Mbabane Magistrates Court car park, a vehicle (BMW) will be sold alongside appliances that include refrigerators and coffee makers, starting at 10:30am. Those in Nhlangano will not be left out. At the Nhlangano Old Jukes Building items that include woven chairs, bar stools and tables, among other things, will be sold from 10:30am.
Another auction to look forward to on the day involves the sale of two UD trucks at Sihhoye outside Tshaneni, starting at 10am.
Rehab tender deadline
Bidders have until this coming Friday to submit their proposals for remedial works at Fashion International and rehabilitation of roof covering at TQM Factory - Matsapha
The procuring entity is Eswatini Investment Promotion Authority (EIPA). All bids should be in by noon on the day.
MBABANE – The Eswatini Competition Commission has approved the acquisition of shares in Skonkwane Ngwane (Pty) Ltd by Jean Leonard Twahirwa and Janviere Mukakamali-Twahira.
$ccording to information sourced from the commission, the acquirers, Twahirwa and 0ukakamali Twahirwa are indi viduals whose other business interest is T-/ *reat /ac ,nvestments 3ty) /td trading as 0r Cheap )abric Centre. This business is involved in selling clothing material. The target firm, Skonkwane 1gwane 3ty) /td, is a company regis tered in terms of the company laws of the country. Skonkwane 1gwane is a property holding company that owns a building situated at 3ortion of )arm 1o. situated in the urban area of 0an]ini, 'istrict of 0an]ini, measuring
square metres. The building has three tenant shops.
Products
The Secretariat of the Commission considered the products of the firms and concluded that the relevant market was the provision of commercial space in 0an]ini. ³There are no overlaps in the activities of the merging firms in the relevant market. 3ost merger, the market shares in the relevant market, market concentration, countervailing power and barriers to entry will not be affected,´ ruled the Commission.
,t was concluded that the transaction was unlikely to result in the substantial lessening or prevention of competition.
0eanwhile, in a separate transaction, the Commission gave a green light to the acquisition by Sun Valley Estates of the entire shareholding of $scendis Vet 3ty) /td $scendis $nimal +ealth 3ty) /td .yron /aboratories 3ty) /td and .yron 3rescriptions 3ty) /td from $scendis +ealth S$ +pldings 3ty) /td
The acquiring firm, Sun Valley Estates 3ty) /td is said to be a dormant South $frican company that is ultimately con trolled by $corn $gri and )ood /imited $$)), a publicly traded company.
Inputs
$$) and all undertakings controlled by $$) whether directly or indirectly) are hereinafter referred to as the acquiring group. The acquiring group operates within four main business segments which include agricultural inputs and ser vices ± the supply of goods and services to agricultural producers as well as the supply of petroleum and lubricant prod ucts to retail, commercial and agricultural customers. 2thers are fresh fruits ± the
THE TRANSACTIONS IN A NUTSHELL:
ACQUIRING FIRM(S) Jean Leonard Twahirwa and Janviere MukakamaliTwahirwa, owners of Mr. Cheap Fabric Centre.
Sun Valley Estates (Pty) Ltd is a dormant South African company that is ultimately controlled by Acorn Agri and Food Limited (AAF), a publicly traded company. production, packaging and marketing of fresh fruit, mainly table grapes and soft citrus, for the export market food processing ± the processing of various commodities including small livestock) into food products for wholesale and retail customers and health foods ± the procurement, production, packaging and supply of healthy foods snacks to wholesale and retail customers.
The acquiring group is active through out South $frica, with a focus in the Western Cape. The target firms operate within the animal health industry and are involved in the development, importa tion, manufacturing, warehousing, dis tribution and marketing of animal health medication for production cattle, pigs, sheep and so on) and companion cats, dogs, horses) animals. The target firms’ activities are conducted through three businesses. $scendis Vet provides com panion animal products prescription and over the counter) aimed at helping pets live a long and healthy life. ,t provides a range of animal products, targeted at companion animal medicine and health care, in particular for management of anxiety and stress, tick and flea control, ectoparasiticides, deworming, Moint care and gastro intestinal. These products are available throughout South $frica in pet shops and veterinary clinics. This unit of the target entity does not make any sales into Eswatini.
TARGET FIRM(S) Skonkwane Ngwane is a property holding company in Manzini.
The target firms operate within the animal health industry and are involved in the development, importation, manufacturing, warehousing, distribution and marketing of animal health.
DECISION
No overlaps in the activities of the merging firms in the relevant market.
There are no overlaps in the activities of the merging firms in Eswatini as shown by the fact that Sun Valley is not present or active in Eswatini. Transaction was approved.