South Africa: Temo Capital 2 receives green light to acquire healthcare assets

South Africa’s Competition Commission has unconditionally approved the proposed merger whereby Temo Capital 2 intends to acquire Akacia, Spartan, CircumQ IP and CicumQ Trading.

Temo Capital 2 is controlled by the Bunang Trust. The Bunang Group holds diversified private equity investments, which are primarily held through Temo 2 and Temo 1.

Akacia is a holding company for subsidiaries that provide products and services to the medical and healthcare sector. Spartan provides a range of commercial vehicle rental and related services. CircumQ IP and CircumQ Trading own the intellectual property to a male circumcision device for application in the healthcare sector.

The Commission found that the proposed transaction is unlikely to result in a substantial prevention or lessening of competition in any relevant markets. The Commission further found that the proposed transaction does not raise any public interest concerns.