The Competition Commission has approved Attacq Waterfall Investment Company Proprietary Limited (AWIC)'s planned R1.07 billion acquisition of the remaining 20% stake in Mall of Africa.
AWIC, which is owned by Attacq (70%) and the Government Employees Pension Fund (30%), intends to buy the remaining shares in Mall of Africa from Atterbury Property Holdings Proprietary Limited and Atterbury Property Proprietary Limited.
The Commission stated that this transaction is unlikely to significantly reduce or hinder competition in any market and does not pose any public interest concerns.
It has advised the Competition Tribunal to give unconditional approval for the transaction.
This investment aligns with Attacq’s strategy to invest in precincts under its ownership and control.
Mall of Africa, the leading shopping mall in South Africa in terms of visits and duration per vehicle, serves as a key component of Waterfall City.
Attacq has noted that the mall benefits from Waterfall City's ongoing growth, with AWIC continuing to expand residential and logistics hubs in the area.
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