Cassava Technologies has cleared another regulatory milestone in South Africa for the sale of shares in its Africa Data Centres (ADC) unit to STANLIB Asset Management, a private equity firm backed by Standard Bank and Liberty Global.
South Africa’s Competition Tribunal said it has “unconditionally approved” STANLIB’s acquisition of a stake in Cassava Africa Data Centres South Africa. Following the transaction, STANLIB will hold joint control of the business, with the option to acquire sole control at a later stage.
The decision follows approval granted by the Competition Commission in January, which concluded the transaction was unlikely to substantially lessen or prevent competition in any market and raised no significant public interest concerns.
ADC, a subsidiary of Cassava Technologies, operates nine data centres across six African countries, serving around 400 enterprise and hyperscale customers.
STANLIB made an undisclosed investment in ADC in October, aimed at accelerating the expansion of the operator’s South African footprint to meet growing demand for digital infrastructure in the country.
