The Tribunal has conditionally approved the large merger wherein Digital Titan (Pty) Ltd (“Digital Titan”) is indirectly purchasing shares in TDE Investments (Pty) Ltd (“TDE”) which will give it shareholding in Teraco Data Environment (Pty) Ltd (“Teraco”) and its subsidiaries.
 
The primary acquiring firm, Digital Titan, is a newly established company created for the purposes of the proposed transaction. Incorporated in South Africa, it does not control any firm or conduct any activities. Digital Titan is ultimately controlled by Digital Realty Trust Inc., a corporation registered in the United States of America and a Real Estate Investment Trust (“REIT”) for U.S. federal tax purposes. Digital Realty acquires, develops and operates data centres. It does not have any data centres in South Africa and is not active in the country. As an international firm, it is not owned or controlled by any HDPs as defined in section 3(2) of the Competition Act.
 
The primary target firm, TDE, is a South African company. Through its subsidiary, Teraco, it is a provider of data centre services. TDE is not owned or controlled by any HDPs. Following the implementation of the proposed transaction, Digital Realty will acquire control over TDE.
 
A full press release will be issued in due course.