Increased offer to acquire Comztek

Datatec Limited, the international Information and Communications Technology group, announced on 2 September 2010 that it had made a conditional offer to acquire 1000% of the share capital of Comztek Holdings, a South African registered company, for a total consideration of R97 million. 41.84% of Comztek is owned by Mustek Limited.

Datatec has satisfactorily completed the due diligence process in relation to this conditional offer and has increased its offer to R101 million. The consideration will be settled partly in cash and partly by the issue of Datatec and/or subsidiary shares.

The offer is now subject only to contract, governmental, regulatory and commercial approvals and is conditional upon Mustek continuing to provide support to Comztek in the form of parent company guarantees, consistent with past practice, until the completion of the transaction.

The offer remains open until Monday 18 October 2010.

This article was originally posted on Africa ICT & Telecom Network