Johannesburg Securities Exchange-listed multinational IT group Datatec has sold 26% of its South African distribution business, Westcon SA, to the Mineworkers Investment Company for R28-million.
The group, headed by CEO Jens Montanana, has bought out the 25,1% minority stake in Westcon SA previously held by African Legend Computing for R200-million. The R20-million offer price is made up of R7-million in new Datatec shares, with the balance of R13-million settled in cash.
Datatec is actively looking for ways to expand the growth of its distribution business in South Africa. Earlier this year it attempted to buy Comztek. However, majority shareholder Mustek rejected the R101-million bid. TechCentral