Tribunal conditionally approves Amdec’s increased stake in retirement village developer
The Competition Tribunal has, subject to public interest-related conditions, approved a merger in which Amdec Investments (Pty) Ltd (“Amdec”) will increase its shareholding in Evergreen Retirement Holdings (Pty) Ltd (“ERH”).
Following the implementation of the transaction, Amdec will acquire sole control of ERH.
The acquiring group (comprising Amdec and its subsidiaries) is a property investment and development firm with a diversified property portfolio that includes mixed-use precincts, inclusionary housing developments, retirement villages and secure lifestyle estates.
ERH develops, owns and operates retirement lifestyle villages across several provinces in South Africa.