By Kimberly Guest, ITWeb contributor
Johannesburg, 23 Jul 2007
JSE-listed Vestor's acquisition of Sizwe Africa IT Group is to go ahead following approval from the Competition Commission.
In May, the newly-restructured investment group announced it had entered negotiations with Yellow Star Group Holdings to acquire 51% of the issued share capital of Sizwe for R67 million.
Vestor will pay for the shareholding through an issue of 224 million shares, at 3c per share, to the Yellow Star Group.
Established in 2002, Sizwe is an ICT services and solutions provider to a wide variety of private and public organisations.
The State IT Agency recently awarded a supply contract to the company, says Vestor.
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