Datatec's Logicalis division has decided to exercise an option to acquire a further 50% of the share capital of Intact Germany, for a consideration of one million euro.
This follows Logicalis' acquisition of a 25% equity stake in Intact Germany in August 2006. The company says this acquisition aimed at extending its IT services operation into Germany.
The consideration will be settled by 300 000 euro in cash and the allotment of 193 862 ordinary R0.01 Datatec shares.
Datatec says an application has been made to the London Stock Exchange for the admission of these shares to the Alternative Investment Market, and to the JSE for their listing.
The company expects listing on both exchanges to become effective on 12 October.
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