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Mustek acquires 26% interest in Sizwe

10th March 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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Mustek on Monday concluded its R15.2-million buy-out of a 26% stake in information and communications technology group Sizwe Africa IT Group.

The deal was expected to “broaden” and strengthen Mustek’s service offering and improve the group’s enterprise development standing.

Mustek could improve its network and infrastructure solutions, as well as deliver a total solution service delivery model, which managed the life cycle of equipment, fielding skilled technicians countrywide to provide information technology and print solutions, and enabling end-user maintenance and support, with immediate service assured through a 24-hour service desk.

As part of the deal, Mustek would provide R6.7-million to Sizwe’s holding company Zaloserve and a loan of nearly R8-million to 100% black-owned company Omni Capital as part of its enterprise development initiatives.

Omni would subscribe for 35% of the share capital of Zatophase for a total consideration of R8.2-million, while Mustek would subscribe for the remaining shares for R15.2-million.

Zatophase, in turn, would subscribe for 40% of the share capital of Zaloserve for R23.3-million.

Edited by Creamer Media Reporter

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