Spar purchases Kgale Shopping Centre from Kirbys
Mbongeni Mguni | Thursday May 25, 2023 14:43
The Competition and Consumer Authority is assessing Tsetseng’s bid to purchase the shopping complex and as yet, no value for the proposed transaction has been publicly disclosed.
According to the Authority, Tsetseng’s shareholders are Kevin Peter Gerard Lawless as well as Ride Investments and Fega Holdings. Ride Investments in turn controls Derek Brink Holdings and Rita Brink Holdings (Pty) Ltd.
Kgale Shopping Complex, meanwhile, is owned by Syndicate Capital whose shareholders are retired Justice Ian Stuart Kirby, Gwithian Kirby, Lise Liyanda Lorato Van Wyk, Liv Boitumelo Pikul and Madeleine Kirby Burrough. Copyright and Intellectual Property Authority records indicate that the retired justice holds the majority of Syndicate’s shares.
“Syndicate Capital is in the business of renting its only property being Kgale Shopping complex to various tenants and the acquiring enterprise is an anchor tenant operating its Kgale Superspar,” the Competition Authority said in a recent merger notice. “The shopping complex which measures 3,785 square metres, is built on a lease hold land held by a notarial deed of lease from the Diocese of Gaborone of the Roman Catholic Church.”