Cartrack, which provides fleet-management and stolen-vehicle-recovery services, says minority shareholders have declined a mandatory offer by the company’s founder and CEO to buy them out.

In February, Cartrack founder and CEO Zak Calisto bought 68.2% of the company’s shares for R2.7bn via his investment holding firm Karoo, which took Calisto’s stake in the company to 68.5%...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now