Subscribe
About

ACQUISITION OF DCC – THE FACTS

Statement by Neil Rex, Managing Director, Drive Control Corporation (DCC)

I have never encouraged rumour mongering; however, today I would like to take the initiative and squash what I understand is appearing in certain publications.

Let me deny emphatically that I ever had any discussions with Investec, and from a company DNA and business model I have never subjected my employees and business to Sahara and/or the Gupta family.

If I had to treat every phone call as a “near miss” then there will be archives of NDAs.

Interestingly, the real near misses, which are not mentioned, probably don’t lend itself to rumour mongering.

The facts:

  • I have entered into an agreement to sell the business of DCC to a consortium headed by Mr Carlos Ferreira.
  • There remain a few conditions precedent still to be met but we hope to close the transaction for 1 November 2022.

Share

Editorial contacts

Sasha Endemann
Liquid Letters
(082) 805 6302
sasha@liquidletters.co.za