MR CHEAP OWNERS INVEST IN PROPERTY FIRM

MBABANE – The Eswatini Competition Commission has approved the acquisition of shares in Skonkwane Ngwane (Pty) Ltd by Jean Leonard Twahirwa and Janviere Mukakamali-Twahira.

According to information sourced from the commission, the acquirers, Twahirwa and Mukakamali-Twahirwa are individuals whose other business interest is TJL Great Lac Investments (Pty) Ltd trading as Mr Cheap Fabric Centre. This business is involved in selling clothing material.  The target firm, Skonkwane Ngwane (Pty) Ltd, is a company registered in terms of the company laws of the country. Skonkwane Ngwane is a property holding company that owns a building situated at Portion 8 of Farm No.125 situated in the urban area of Manzini, District of Manzini, measuring 10 89 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 Manzini. “There are no overlaps in the activities of the merging firms in the relevant market. Post-merger, the market shares in the relevant market, market concentration, countervailing power and barriers to entry will not be affected,” ruled the Commission. It was concluded that the transaction was unlikely to result in the substantial lessening or prevention of competition. Meanwhile, in a separate transaction, the Commission gave a green light to the acquisition by Sun Valley Estates of the entire shareholding of Ascendis Vet (Pty) Ltd; Ascendis Animal Health (Pty) Ltd; Kyron Laboratories (Pty) Ltd; and Kyron Prescriptions (Pty) Ltd from Ascendis Health SA Hpldings (Pty) Ltd. The acquiring firm, Sun Valley Estates (Pty) Ltd is said to be a dormant South African company that is ultimately controlled by Acorn Agri and Food Limited (AAF), a publicly traded company.

Inputs

AAF and all undertakings controlled by AAF (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 services – the supply of goods and services to agricultural producers as well as the supply of petroleum and lubricant products to retail, commercial and agricultural customers. Others are fresh fruits – the 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 throughout South Africa, with a focus in the Western Cape. The target firms operate within the animal health industry and are involved in the development, importation, manufacturing, warehousing, distribution 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. Ascendis Vet provides companion animal products (prescription and over-the-counter) aimed at helping pets live a long and healthy life. It provides a range of animal products, targeted at companion animal medicine and healthcare, in particular for management of anxiety and stress, tick and flea control, ectoparasiticides, deworming, joint care and gastro-intestinal. These products are available throughout South Africa in pet shops and veterinary clinics. This unit of the target entity does not make any sales into Eswatini.

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