IN THE MATTER OF THE MERGER NOTIFICATION BY ARA PETROLEUM TANZANIA LIMITED TO ACQUIRE INTEREST IN NDOVU RESOURCES LIMITED PUBLIC NOTICE (Made under Section 65 (2) (g) of the Fair Competition Act No. 8 of 2003 and Rules 42 (5) and 49 of the Competition Rules, 2018)
The Fair Competition Commission (FCC) is an independent statutory body established under the Fair Competition Act No. 8 of 2003 (FCA) with the object of enhancing the welfare of the people of Tanzania by promoting and protecting effective competition in markets and preventing unfair and misleading market conduct throughout Tanzania Mainland. Under the same Act, the FCC has powers to investigate, inter alia, entry into and exit from markets. The FCC has received merger notification to the effect that ARA Petroleum Tanzania Limited (The Acquiring Firm) a company incorporated in Tanzania intends to acquire certain interest in Ndovu Resources Limited (The Target Firm), a company incorporated in Tanzania. The Acquiring Firm engages in exploration and production of oil and gas. It is an affiliate of ARA Petroleum LLC, a company incorporated in Oman. It is charged with exploring, appraising and developing the Ruvuma license and its gas discovery. The Target Firm is also engaging in exploration and production of oil and gas. It is owned by Aminex Plc, a company registered in Ireland. Currently, the target firm has 75% interest in the rights granted to it under the Ruvuma 2 Production Sharing Agreement, a contract signed on year 2005 between Government of Tanzania, Tanzania Petroleum Development Corporation (TPDC) and the Ndovu Resources Limited. Based on the Farm-out Agreement entered between merging parties, the Target Firm is selling 50% of its interest rights to the Acquiring Firm. FCC is currently investigating the intended acquisitions in line with the provisions of the Fair Competition Act No. 8 of 2003 and the Competition Rules, 2018. Pursuant to Rule 49 of the said Rules, parties (both legal and natural) who deem themselves as having sufficient interest in this merger, or, if the merger is not objected, it will have or is likely to have material effect on their interests, are hereby NOTIFIED to register their interests and or objections (if any) or file any information that will assist the FCC in reaching just and reasonable decisions with regard to Acquiring Firm’s notification of the intended merger. All such parties shall file and register such interest(s) or information by way of written submissions to the FCC within FOURTEEN (14) days from the first day of publication of this notice. No submission filed after the said deadline will be accepted. Registration of the said interests or objections or information should be accompanied by a duly filled Form FCC.10 (Notice of Intention to Participate found in the First Schedule of the Competition Rules, 2018). Failure to fill in Form FCC.10 will deny a party the right to make any oral submissions before the Commission and the presence of that party in the proceedings will be as an observer only. 3 Submissions must be submitted to the FCC at the address below. Director General, Fair Competition Commission, GEPF House, 2nd Floor, Plot No. 37, Regent Estate, Bagamoyo Road, P. O. Box 7883 Dar es Salaam. Tel: +255 22 2926128/29/30/30; Fax: +255 22 2926126.
With Thanks to Foolandcows on the LSE Bulletin Board
Source https://competition.or.tz/PUBLISHE_DOCUMENTS/Public%20Notices/PUBLIC%20NOTICE-ARA%20AND%20NDOVU%20(1).pdf
Not dated I'm afraid but will research further, I suspect this was completed a while ago but it's good to see something official from within country.
UPDATE: I can now confirm it was created 7th August 2019.