Motus to acquire Penta Menlyn dealership following Tribunal approval
The Competition Tribunal (“Tribunal”) has unconditionally approved the merger in which Motus Group Ltd (“Motus”) will acquire the motor dealership business of Penta Menlyn (Pty) Ltd (“Penta”), located in Menlyn, Pretoria.
Motus operates in the South African automotive industry. It is active across four main business segments: the import and distribution of new vehicles and parts; the retail and rental of motor vehicles; motor-related financial services; and the sale of original equipment manufacturer and aftermarket parts. The group’s passenger vehicle retail operations are relevant to the transaction.
The target dealership is active in the sale of new and used passenger vehicles, aftersales parts, aftermarket services and vehicle financing through their single dealership. It retails several brands.
Tribunal approves Fairvest’s acquisition of Jozini and Tugela Ferry malls
The Tribunal has unconditionally approved the merger in which Fairvest Ltd (“Fairvest”) will acquire the rights to the rental enterprises known as Jozini Mall and Tugela Ferry Mall. The transaction involves Greater Atlantic Properties (Pty) Ltd in respect of Jozini Mall and Copperzone 163 (Pty) Ltd in respect of Tugela Ferry Mall.
Fairvest operates in the retail property sector, with a portfolio focused on non-metropolitan and rural shopping centres, as well as convenience and community shopping centres serving lower LSM markets in high-growth areas close to commuter networks. The group owns a number of retail properties in Kwa-Zulu Natal.
Jozini Mall and Tugela Ferry Mall are both classified as community shopping centres and are located in Makhonyeni and Tugela Ferry, respectively, in KwaZulu-Natal.