Pinnacle bids for share buyout
Takeover could accelerate Datacentrix’s plans to expand into the rest of the continent
13 October 2016 - 07:28
DATACENTRIX is set to delist from the JSE following a R541m offer by Pinnacle to buy out other shareholders in the company. Pinnacle has a 57.1% stake in Datacentrix. Pinnacle has received irrevocable undertakings from Datacentrix shareholders who hold 72.05% of the remaining stake to vote in favour of the proposed scheme and the delisting, it said. The takeover could accelerate Datacentrix’s plans to expand into the rest of the continent using its parent company’s footprint. Through Datacentrix, Pinnacle has more exposure in the lucrative technology services market.
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