Competition Tribunal approves acquisition of JNB11 data centre

The Competition Tribunal (“Tribunal”) has approved a merger that will see Main Street 2156 (Pty) Ltd (“Main Street 2156”) acquire sole control of the JNB11 data centre through the acquisition of all the issued shares in VDC JNB11 Opco (Pty) Ltd (“Opco”) and VDC JNB11 Propco (Pty) Ltd (“Propco”) from Vantage Data Centers South Africa S.à.r.l.

Main Street 2156 is a newly incorporated South African firm established specifically for the merger. It forms part of a larger group that targets investments across a range of infrastructure asset classes including toll roads, renewable energy, power generation, ports, logistics and digital infrastructure assets.

Opco and Propco are private firms incorporated in South Africa. Opco is responsible for operating the JNB11 DC data centre, while Propco is the property holding company that owns the data centre building and holds the registered lease rights relating to the data centre.

 

Tribunal approves renewable energy merger with HDP ownership conditions

The Tribunal has approved a merger in which EMIF II Holding VII Coöperatief W.A. (“EMIF”) will acquire sole control of four entities that collectively operate as Mainstream Renewable Power South Africa (the “target business”). The entities are:

  • Mainstream Renewable Power SAL Shareholding SPV (RF) (Pty) Ltd Limited (“MRP SAL”);
  • Luxembourg Mainstream Renewable Power S.à.r.l. (“Luxco”);
  • South Africa Solis Trading Holdco (Pty) Ltd (“Solis”); and
  • Mainstream Asset Management South Africa (Pty) Ltd (“MAMSA”).

The Tribunal has approved the merger subject to public interest conditions relating to ownership by historically disadvantaged persons (“HDPs”).

EMIF is incorporated and registered in the Netherlands and forms part of a wider group that is active in South Africa through A.P. Møller-Maersk A/S, a company incorporated in Denmark. The group controls various entities in South Africa. Of relevance to this transaction are two firms within the group which are active in the development, financing, ownership, operation and installation of distributed solar photovoltaic (“PV”) solutions for commercial and industrial customers.

MRP SAL, Solis and MAMSA are registered in South Africa, while Luxco is registered in Luxembourg. The target business is active in the South African renewable energy sector, principally in the development, ownership, operation and management of utility-scale renewable energy projects, including solar PV and wind projects.