German deal to bring SA savings

20 December, 2009 in South Africa

source: Fin24
Dec 17 2009 16:33

Johannesburg – The protracted sale of semi-state owned IT services provider arivia.kom to T-Systems SA has finally been concluded.

In a statement on Thursday, ICT services provider T-Systems SA said it had officially signed a deal that had sealed the sale.

“As part of the agreement, T-Systems SA will acquire 100% of the shareholding in arivia.kom, previously owned by state-owned enterprises (SOEs) Eskom and Transnet while simultaneously taking over the IT service contracts for both SOEs for a contract period of five years.”

Eskom owned 58.5% of arivia.kom, while Transnet had been in possession of a 41.5% stake of the company.

In 2006, Eskom and Transnet embarked on a strategic restructuring process with the objective of disposing non-core business, which included their [continue reading]

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