African Infrastructure Investment Managers (Pty) Ltd. agreed to acquire Commercial Cold Storage Group (Pty) Limited from Oceana Group Limited (JSE:OCE) on October 4, 2022. The parties aim to conclude the transaction by February 28, 2023, subject to regulatory approval. This includes approval from the competition authorities in South Africa and Namibia and the exemption or transfer of fish processing establishment rights in terms of the Marine Living Resources Act. As of February 28, 2023, Shareholders of Oceana Group announced that regulatory approval conditions related to the South African competition authorities and the Department of Forestry, Fisheries and Environment have been fulfilled and further that the regulatory approval condition related to the Namibian competition authority remains outstanding and accordingly Oceana and the Purchaser have agreed to extend the date for fulfillment of the outstanding regulatory and commercially suspensive conditions from February 28, 2023 to April 30, 2023.

African Infrastructure Investment Managers (Pty) Ltd. completed the acquisition of Commercial Cold Storage Group (Pty) Limited from Oceana Group Limited (JSE:OCE) for ZAR 760 million on April 4, 2023. Investec Bank plc acted as financial advisor and Webber Wentzel acted as legal advisor to Oceana Group.