Currently it is in the middle of turbulence. Should wait till the transaction is closed.


22/07/2008
Dimension Data to acquire remaining shares in Datacraft Asia for USD 276m
Story Dimension Data, the London-listed, South Africa-based IT-services company, will acquire the remaining shares in Datacraft Asia, its Singapore-listed subsidiary, for USD 276m.
In its press statement Dimension Data said that it intends to acquire the remaining 44.9% of the Singapore-listed shares of its Asian subsidiary, Datacraft for USD 1.33 per share, a premium of 34% to Datacraft’s closing share price of USD 0.99 on Monday 21 July, and translating into a total purchase consideration of approximately USD 276m. The acquisition will be effected by way of a Scheme of Arrangement under Singapore law and is being financed with a combination of cash and equity issuance.

The acquisition must pass various regulatory and shareholder approvals prior to completion. Dimension Data anticipates this process will take several months to conclude.

Source Company Press Release(s)

Value USD 276m (deal value)

Stake Value 45%