SA Corporate Real Estate Ltd and AFHCO Holdings Pty Ltd
SA Corporate Real Estate Ltd and AFHCO Holdings Pty Ltd
Cliffe Dekker Hofmeyr represented AFHCO Holdings Pty Ltd (AFHCO) in the establishment of a new joint venture company, AFHCO Consortium 2 Proprietary Limited held by AFHCO (60 percent) and JR 209 Proprietary Limited (JR209) (40 percent) for the acquisition by the joint venture of residential units to be constructed and developed by JR 209 with funding from AFHCO.
This transaction involved a suite of complex legal agreements, including a subscription & shareholders’ agreement; an MOI; an agreement of sale; guarantees and a facility agreement. These agreements were required to establish the joint venture and to integrate the commercially agreed terms into the legal documentation.The transaction involved complex tax, funding and competition issues, which were resolved by our experienced team.
You might also be interested in
17 Feb 2025
by Nadeem Mahomed, Safee-Naaz Siddiqi and Shanley Webb
Unchecked AI, unseen dangers: What the DeepSeek breach means for SA companies and POPIA compliance
DeepSeek, a prominent competitor in the artificial intelligence (AI) marketplace, recently faced a significant security incident when an unsecured ClickHouse database exposed over a million lines of sensitive information, including chat histories, secret keys and backend details. This vulnerability granted unauthorised access to potentially confidential data and system resources, raising critical concerns about AI security and data protection.
3 min read
25 Jul 2024
by Naomi Mudyiwa
Controlled foreign company rules: To outsource or not to outsource?
Over the last few weeks, the South African tax advisory and business community have on various platforms debated the Constitutional Court’s (CC) recent judgment in Coronation Investment Management SA (Pty) Limited v Commissioner for the South African Revenue Service ZACC 11. The CC held that the taxpayer, Coronation Investment Management SA (Pty) Ltd, had a foreign business establishment (FBE) in Ireland despite the Irish business outsourcing some of its functions. As a result, the CC held that the taxpayer was exempt from section 9D of the Income Tax Act 58 of 1962 (ITA), so that the (net) income of its Irish subsidiary, which is a controlled foreign company (CFC) under section 9D, was not subject to tax in South Africa.
Tax & Exchange Control
9 min read
16 May 2024
by Anli Bezuidenhout, Phetheni Nkuna, Katekani Mashamba and Serisha Hariram
Webinar recording | Social media and the workplace
Our experts discuss when conduct on social media has a bearing on the workplace.
Employment Law
39:59 Minutes
7 Aug 2024
by Njeri Wagacha and David Kimani
Shifting tides: Rethinking non-compete clauses in employment contracts
Non-compete clauses are provisions in employment contracts that restrict an employee from engaging in certain competitive activities after the employment relationship ends within a specific time frame and geographical area. Employers often use them to safeguard their business interests. They aim to prevent former employees from leveraging their knowledge and relationships to benefit competitors while also respecting the employee’s right to seek future employment. This balance is crucial, ensuring that the clauses protect the employer’s interests without unreasonably restricting the employee’s career prospects.
Competition Law
5 min read
20 Nov 2024
by Tamarin Tosen and Carmin Botha
Deferred purchase price and interest in share sale agreements: The National Credit Act
The National Credit Act 34 of 2005 (NCA) is not a piece of legislation that springs to mind when negotiating share sale transactions. This is mainly since share sale transactions typically do not constitute credit agreements and, if they do (due to payment deferral provisions), the NCA still wouldn’t apply where the purchaser (being the “ credit consumer ”) is a juristic person whose annual turnover or asset value equals or exceeds R1 million or where the purchase price is R250,000 or more, and the purchaser’s annual turnover or asset value is below R1million.
Corporate & Commercial Law
6 min read
20 Sep 2024
by Jacquie Cassette, Brigitta Mangale and Thobeka Dhlamini
Justice and Public Interest on the Mic – Episode 1
Since 2011, Cliffe Dekker Hofmeyr's (CDH) Pro Bono & Human Rights Practice (Pro Bono Practice) has been at the heart of our firm's commitment to making a real difference.
Pro Bono & Human Rights
26:16 Minutes