Proposed Acquisition by Alchemy Promotions Holdings Limited of Control Over Amrod Investments Proprietary LimitedCase type: MRR Form 2 (Simplified Procedure) Case Parties: Oppenheimer Partners Limited as Ultimate Acquirer/Alchemy Promotions Holdings Limited as Acquiring Undertaking/Amrod Investments Proprietary Limited as Target Undertaking/Amrod Corporate Gift and Clothing Nigeria Limited as Nigerian Subsidiary Published: 30 Jan. 2023
Proposed Transaction The merger relates to a proposed transaction in terms of which Oppenheimer Partners (OP) (through its wholly owned subsidiary, Alchemy Promotions Holdings Limited (Alchemy)), will acquire control over Amrod Investments Proprietary Limited (Amrod or Target Firm) (the Proposed Transaction). The Acquirer OP is an investment holding company incorporated in accordance with the company laws of the Isle of Man. OPs focus is on investing in fast-moving consumer goods, industrial and service sectors. Alchemy is a company incorporated in accordance with the company laws of Mauritius and is a wholly owned subsidiary of OP. It was established for the purposes of the Proposed Transaction and as such it does not currently have any business activities. The Target Amrod is a company incorporated in accordance with the company laws of the Republic of South Africa. Amrod is a supplier of branded promotional products including headwear, gifting, display and workwear ranges. Promotional products are products branded with a companys name and / or logo for purposes of offering such products to customers and other parties, in order to promote that company. Amrod only sells to trade buyers, and accordingly, it does not sell directly to the public. Amrod operates in Nigeria through its subsidiary, Amrod Corporate Gift and Clothing Nigeria Limited (Amrod Nigeria). OP, Alchemy and Amrod will be referred to collectively as the Parties. The Proposed Transaction will not result in either horizontal or vertical effects given that there are no horizontal or vertical overlaps in the activities of the Parties in Nigeria or any other jurisdiction. Accordingly, the Parties respectfully submit that there are no Affected Markets for the purposes of this notification and the Proposed Transaction will not prevent or lessen competition in any relevant market in Nigeria.