AMALGAMATED ELECTRONIC CORPORATION
Stellar Capital Partners agrees to sell security technology unit
Investment group Stellar Capital Partners (SCP) has officially put security technology subsidiary Amalgamated Electronic Corporation (Amecor) up for sale, and is on the verge of securing an empowerment partner for subsidiary Prescient Investment Management. These developments come days after SCP asked shareholders to approve a rejigging of its preference share structure to ensure that the company had extra room to manoeuvre in its efforts to unlock value for shareholders. Earlier in 2018 SCP indicated it was keen to dispose of its industrial interests. On Monday SCP indicated it had received a number of unsolicited expressions of interest to acquire Amecor, which was previously listed on the JSE. Amecor is the largest supplier of security communication equipment and networks in the South African market. The company has also been a consistent profit performer with reliable cash flows. Market watchers are keen to see what price tag will be dangled over Amecor, which was acquired by SC...
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