IT and communications group Unihold has disposed of a further 3.8% of Pecaso, formerly Unihold International, to private equity house FIS Private Equity 2000 LP (FISPE) for lb1.75 million or R20.08 million in cash.
FISPE bought an initial 7.5% of Pecaso for lb3 million in September last year and at the time expressed interest in increasing its stake.
Unihold says it agreed to subsidiary Unihold Group making the latest disposal to help the company reduce its gearing.
The deal leaves Unihold Group with 58.9% of Pecaso.
Unihold Group has given standard warranties to FISPE, but there are no suspensive conditions relating to the deal.
Had the sale been implemented on 30 June 2000, Unihold`s headline earnings per share for the year to that date would have been 32.8c, 5% higher than the reported figure, while net asset value would have been 16% higher at 147.4c a share.
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