Ram-Led Far Property Eyes Forest Hill

The Competition and Consumer Authority (CCA) has received merger notifications for the proposed purchase of Portion 1637 (a portion of Portion 1619) from Merlin Integer (Pty) Ltd, as well as Portion 868 from The 868 On Kgale Trust (Pty) Ltd. The transactions, if approved, will give Far Property control of the targeted properties. According to the CCA, “upon the implementation of the Proposed Transaction, the Acquiring Enterprise will solely control the Target Property.” The regulator has invited interested stakeholders to submit views, documents, affidavits or any relevant information regarding the proposed mergers within 10 days from the date of publication.

“Any person, including a third party not a party to the proposed merger, may voluntarily submit to the investigator or the Authority any document, affidavit, statement or other relevant information in respect of a proposed merger,” the Authority said. Far Property is a Botswana-incorporated public company listed on the Botswana Stock Exchange, with a diversified property portfolio covering commercial, retail, industrial and residential assets in Botswana, South Africa and Zambia. The company’s major shareholders include businessman Ramachandran Ottapathu, Farouk Ismail, Platinum Compass (Pty) Limited, Botswana Public Officers Pension Fund and Botswana Insurance Fund Management.

Ottapathu and Ismail are among shareholders holding significant stakes in the company and have established business interests across Botswana. The company’s board comprises Ramachandran Ottapathu, Ranjith Priyalal De Silva, Faizel Ismail, Rajeshkumar Jayrajh, Gobusamang Dempsey Keebine and Vidya Sanooj. The Forest Hill acquisitions are expected to further expand Far Property’s footprint as it continues to grow its real estate holdings. The proposed acquisitions also highlight the connection between Merlin Integer and The 868 On Kgale Trust.