Government pension fund acquisition of Menlyn Maine shopping centre gets green light
The Competition Tribunal has approved the merger between the Government Employees Pension Fund and Menlyn Maine Investment Holdings.
Through this transaction, the GEPF, represented by the Public Investment Corporation, acquires sole control over MMIH’s undivided share of Redevelopment Erf 3 and its share of the rental enterprise known as Central Square, Menlyn Maine, which comprises a retail component, a gymnasium, office space, and retail/business premises, the tribunal said in a statement.
The GEPF is a defined benefit pension fund that manages and administers pensions and other benefits for government employees. The PIC, on behalf of the GEPF, invests in various classes of assets including equities, property and fixed income.
The tribunal found the merger does not raise any competition or public interest concerns, and approved the transaction without conditions.