The AST Group, Iscor and black empowerment groups are in advanced talks relating to the sale of Iscor`s 29% stake in AST to the empowerment groups.
John Miller, AST Group marketing and industry solutions director, says discussions have been underway for some time, and the deal has not yet been concluded.
Like any deal, he says, it is dependent on payment, which has not yet taken place.
"They are now busy finalising payment, but a deal is only done when money has moved. We hope it will be a done deal, and we are lending whatever assistance we can to help them conclude the deal."
AST already has significant black empowerment partnerships, which in the past has helped it win substantial government tenders.
It announced earlier this month that it was part of a consortium that won a contract for network deployment, support and maintenance for the justice department in a deal worth more than R200 million.
AST announced in June that it was finalising, in consultation with Iscor, the orderly disposal of the Iscor stake in AST.
The groups said later that the deal had been delayed because of market uncertainty and volatility caused by the September terrorist attacks in the US.
Miller says AST would benefit greatly from the deal, which will see 30% of the company held by empowerment stakeholders.
Business Day quoted AST executive chairman Gerrie de Klerk as saying that the empowerment groups have undertaken to put some shares into the market over five years to help create liquidity.
"When we can get the empowerment shareholding up to 35% there are special benefits," Miller adds. Groups such as Telkom view listed companies with 35% empowerment shareholdings as empowerment companies.
He adds that once the deal is finalised, one to three people from the empowerment companies would be invited to join the AST board.
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