MEXICAN Billionaire, Alberto Baillères has stated that he has obtained a waiver from the Minister of Land Reform and the sale of Erindi to Rembo Ltd has been given consent by government, with the transaction only awaits the Competition Commission’s independent decision.
Speaking from Emergo Media on behalf of Baillères, Servaas van den Bosch stated that the transaction was approved by the Minister of Land Reform in terms of the Agricultural (Commercial) Land Reform Act, without any conditions,
Furthermore, the Ministry of Trade, Industrialisation and SME Development under the Foreign Investment Act of 1990 has issued a Certificate of Status Investment, approving Mr Baillères as an investor.
Van den Bosch further stated that the impression that such approval is subject to meeting conditions set out by opposition parties and Traditional Authorities is incorrect.
“The assertions are unfortunately not accurate in that the transaction is currently being independently considered by the Namibian Competition Commission. The Prime Minister is correct that under current legislation, a waiver needs to be obtained before the property can be sold to a foreigner or a Namibian. However, this waiver was duly obtained from the Minister of Land Reform, and the sale of Erindi to Rembo Ltd was given consent by the Minister of Land Reform in terms of the Agricultural (Commercial) Land Reform Act, without any conditions.”
Furthermore, the Ministry of Trade, Industrialisation and SME Development under the Foreign Investment Act of 1990 has issued a Certificate of Status Investment, approving Baillères as an investor.
The merger filing in respect of the Erindi transaction was submitted jointly by the current owners of Erindi and Rembo Ltd, the special purpose vehicle created for this transaction, with the Namibian Competition Commission during May 2019.
Van den Bosch stressed that Baillères has identified Erindi as a significant philanthropic investment.
“One of the major factors in his decision to buy the game reserve is that Namibian law allows him to acquire 100% of the shares in the companies that together make up Erindi. Baillères complied in full with each and every regulatory approval required under Namibian law. He has made it clear from the outset that he will only complete the purchase of Erindi if all legal requirements are in place and if he and the investment he intends to make is welcomed by Namibia” van den Bosch noted.