60% Sale Of Britehouse Concluded
60% Sale Of Britehouse Concluded
Johannesburg, South Africa, Thursday, 12 July 2007 - In a move to grow its business on the African continent in the public and private sectors, Dimension Data plc today announced it has been granted Competition Commission approval to sell a stake in its Britehouse Group (Britehouse) to a BEE and investment company consortium.
The consortium comprises Convergence Partners Investments (Pty) Ltd, Safika Holdings (Pty) Ltd, and VenFin Limited.
In October last year, Dimension Data in South Africa announced it had consolidated its Microsoft Applications, SAP Application Development Practices and Paracon Holdings Ltd investment into a new entity, the Britehouse Group, and intended to sell a 30% stake in that business to Convergence Partners and Safika. VenFin was subsequently included as a financier in the transaction, bringing the total purchase stake by the consortium to 60%.