Competition Commission Recommends Approval for Exemplar's Acquisition of Steelpoort Shopping Centre in South Africa
The Competition Commission has recommended that the Competition Tribunal approve Exemplar's acquisition of retail properties, including the 30,000 square metre Steelpoort Shopping Centre in Limpopo, South Africa. The mall is part of a redevelopment project in Steelpoort and is linked to Goldbroz Investments, controlled by Middelbro Property Company. The commission believes the transaction will not harm competition and does not raise public interest concerns.
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The Competition Commission has recommended the Competition Tribunal approve Exemplar's acquisition of various retail properties from Goldbroz Investments, including the Steelpoort Shopping Centre, which has a gross leasable area of 30,000 square metres. This mall is part of the Steelpoort town redevelopment in Limpopo, aimed at revitalizing the mining town.
The Steelpoort region, rich in platinum and chrome, has seen increased investment since the opening of the De Hoop dam in 2014. The commission stated that the transaction would not significantly lessen competition and does not present major public interest issues.
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