Mulilo Renewable Energy and Greenstreet given go-ahead to acquire Mulilo Prieska and De Aar
The Competition Commission has approved the acquisition, finding that it raises no public interest concerns.
Mulilo Renewable Energy and Greenstreet has been given the go-ahead to acquire Mulilo Prieska and Mulilo De Aar through its Stanlib Fund, which is wholly-owned and controlled by Standard Bank Group.
Mulilo is owned and controlled by Mulilo Energy Holdings and it controls Mulilo Renewable Energy Solar PV Prieska and Mulilo Renewable Energy Solar PV De Aar, which are involved in producing renewable energy electricity using solar photovoltaic and wind technology for Eskom.
According to a statement by the Competition Commission, before referring the matter to the tribunal, the competition watchdog had to consider the effects of the proposed transaction on the national market for the supply of electricity to Eskom by renewable energy producers using solar photovoltaics, and the national market for the supply of electricity to Eskom by renewable energy producers using wind technology.
The commission found that the acquisition wouldn’t raise any public interest concerns and was of the view that the merger is unlikely to result in any substantial prevention or lessening of competition.