WINDHOEK, May 22 (Xinhua) -- An international entrepreneur and philanthropist is finalizing a sales agreement with the owners of Namibia's biggest privately owned game reserve, according to a statement Wednesday.
The Erindi Reserve is Namibia's biggest privately owned game reserve located in the central north Namibia and has been on the market for five years.
According to the statement from Emergo Communications, the buyer, Alberto Baillères is a Mexican business leader and philanthropist, who is President of the multi-national consortium BAL Group and has experience with managing several wildlife protection ranches in different parts of the world.
Emergo said the transaction is still subject to Namibian Competition Commission approval.
Legal counsel for the buyer, Koos Pretorius of ENS, said Baillères has stressed his commitment to preserving Erindi for the benefit of future generations of Namibians and the world.
"The intention is to turn Erindi into a flagship private game reserve, and any future profits generated from this social enterprise will be primarily reinvested in Erindi," he added.
Erindi was put on sale for 110 million U.S. dollars and occupies 70,000 hectares and in 2016, the Namibian government expressed its interest in buying the reserve but later reversed its decision.
