INALA CAPITAL ACQUIRES 72.72% ISSUED SHARE FROM GREYSTONE

MBABANE – The Eswatini Competition Commission has approved the acquisition by Inala Capital Limited of 72.72 per cent of the issued share capital in Alliance Foods Limited from Greystone Partners Limited.

The proposed transaction is merely a restructuring in terms of which the acquiring firm will increase its current shareholding from 27.27 per cent shares to 100 per cent shares in the target firm. As such, the transaction is categorised as Phase 1. Post-merger, the market shares in the relevant market and market concentration will not be altered, such that the structure of the market will remain unchanged.

Prevention

Countervailing power and barriers to entry will not be affected, hence the transaction is unlikely to result in the substantial lessening or prevention of competition. Therefore, the transaction was approved without conditions.Meanwhile, the acquisition by Elangeni Food Group (Pty) Limited of 51 per cent shareholding in Emerald Hill (Pty) Limited was also approved during the first quarter of 2024/25 financial year.Elangeni Food Group was formerly known as Kikilikigi (Pty) Limited. Elangeni Food Group comprises of chicken growers who are also shareholders of the group that raise chicks from day old to date of slaughter. Each shareholder in the Group has a set of chicken warehouses, where it raises chickens and delivers them to Elangeni Poultry, whereat the chickens are slaughtered, processed, frozen and delivered into the retail market. Elalngeni Poultry is wholly owned by Elangeni Food Group.

Laws

The target firm Emerald Hill is a company registered and incorporated in accordance with the laws of Eswatini and has its registered office and principal place of business at Emerald Hill Farm, Malkerns. Emerald Hill produces broiler chickens which they entirely sell only to Elangeni Poultry.

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