Competition commission approves Vortex, Roots Abattoir merger – Business Home 2

The Namibian Competition Commission (NaCC) has approved the acquisition by Vortex Holdings Namibia of the remaining 50% shareholding in Roots Abattoir Enterprises.

The decision was announced following a meeting of the board of commissioners held in February.

According to NaCC findings, the transaction follows a previous acquisition where Vortex Holdings Namibia acquired an initial 50% stake in Roots Abattoir Enterprises, as well as Roots Farming Enterprises.

NaCC spokesperson Dina //Gowases says the merger will have no effect on market concentration and, therefore, the current competitive conditions in the relevant market will prevail post-merger.

“The merging parties do not operate in the same market – the proposed transaction, therefore, does not give rise to any integrations. The proposed transaction will not substantially lessen or prevent competition in the relevant market,” says //Gowases.

//Gowases says the merger was approved on condition that there will be no job losses.

“The proposed transaction will have no negative effect on employment insofar as the target undertaking is concerned, as there will be no job losses, including redundancies and retrenchments, as a consequence of the implementation,” she says.

Additionally, the merger is expected to increase production capacity and will give rise to job creation.
//Gowases says the initial transaction has not yet been implemented.

According to its website, Vortex Holdings Namibia is a 100% owned subsidiary of VH Invest AG, a German holding company investing in companies working in technology, renewable energy projects, renewable energy project development and infrastructure investments.

Meanwhile, Roots Abattoir Enterprises is actively involved in the slaughtering and processing of chickens.

In 2021 the Roots Development project, which includes Roots Abbatoir Enterprises, had an investment of N$100 million.

The project goal was to establish an agricultural town in each one of the 14 regions of Namibia, with the first roll-out being at Stampriet.

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