South Africa’s largest IT distributor, Pinnacle, has confirmed that it is now the majority shareholder in one of the country’s premier systems integrators Datacentrix.
In November last year, Pinnacle notified Datacentrix shareholders of a mandatory offer to acquire all of the ordinary shares of the company it didn’t already own.
In a SENS announcement following the closure of this offer yesterday, the distributor revealed that it now owns 55% of Datacenrix.
“Shareholders are advised that the Offer has now closed and that pursuant to the Offer, Pinnacle has acquired a further 19 791 464 Datacentrix Shares resulting in Pinnacle’s shareholding in Datacentrix increasing to 108 311 512 Datacentrix Shares, which represents 55.30% of Datacentrix’s total voting Shares in issue,” Pinnacle says in its statement.