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Jamali’s 28.7% acquisition of Mmegi nears

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MIH is a holding company for Dikgang Publishing Company, publishers of Mmegi and The Monitor newspapers; CBET, publishers of the Botswana Guardian and the Midweek Sun newspapers; Mmegi Publishing House, specialists in the publication of textbooks mainly for the school market; BONESA Distribution Company and Mmegi Broadcasting Corporation.

OAITSE MATHALA

Renowned business mogul, Jamali Seyed Abolfazi intends to buy 28.73% stake in Mmegi Investments Holdings (MIH) Proprietary Limited. The Competition Authority last week released a Merger Notice for the proposed acquisition by Universal House (Pty) Ltd, a company that is wholly owned by Jamali.
The Authority said in the notice that Universal House is a Special Purpose Vehicle formed particularly for the transaction, and as such has no other business activities. “Universal House is wholly owned by Jamali Seyed Abolfazi. Jamali Seyed Abolfazi is a Motswana national with various business interests in Botswana, of which are predominantly in property development,” the Notice highlighted.
The Directors of MIH are Methaetsile Leepile, Titus Mbuya, Efan Khan, Eugene Mukomeza, Bobana Badisang and Jack Tlhagale. MIH business activities include printing, publishing and distribution of books, publications and newspapers. The main shareholders of MIH are Universal House, Leepile, Mbuya, the Botswana Mine Workers Union and Mmegi Publishing Trust.
Reports indicate that the acquisition of the 28.73%, should it go through, will make Jamali the single largest shareholder in the company.
“MIH is a holding company for Dikgang Publishing Company, publishers of Mmegi and The Monitor newspapers; CBET, publishers of the Botswana Guardian and the Midweek Sun newspapers; Mmegi Publishing House, specialists in the publication of textbooks mainly for the school market; BONESA Distribution Company and Mmegi Broadcasting Corporation,” the Notice shared light about MIH.
It said through Mmegi Broadcasting Corporation, MIH has 18% shareholding in Your Friend (Pty) Ltd, “an entity incorporated in Botswana and trading as Gabz FM, a private radio station.”
“According to section 57(3), of the Competition Act, ‘any person, including a third party not a party to the proposed merger, may voluntarily submit to the inspector or the Authority any document, affidavit, statement or other relevant information in respect of a proposed merger.’ The Competition Authority therefore seeks any stakeholder views for or against the proposed merger, which may be sent within 10 days from date of this publication,” the Notice concluded.

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