INDUSTRIAL SECTOR
Stellar set to sell Amecor in fresh bid to shift focus
Investment group Stellar Capital Partners is looking to sell Amalgamated Electronic Corporation (Amecor) in a potential deal that will reduce its exposure to the industrial sector. With a market value of R645m, Stellar has a sharp focus on financial services through its 49% interest in fund manager Prescient, which has overseen R86.4bn in assets under management as of June. Prescient also has R260.5bn in clients’ assets under administration. The company said on Friday it was considering offers from potential buyers of its 100% interest in Amecor, which focuses on technologies relating to security and electronics.
The latest developments followed an earlier decision by Stellar, which is backed by Christo Wiese, to bail out of Tellumat, which offers electronic technology within the telecommunications, defence, transport and energy industries. "The company remains committed to reducing its exposure to the industrial sector in a practical and organised process and, in turn, to ens...
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