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Altech

2 Empowerment Groups All Set to Acquire 25% of Netstar

2 Empowerment Groups All Set to Acquire 25% of Netstar

25% of stake in Altech's Netstar division is being taken over by two empowerment groups, in a "R350 Million deal" that will reportedly not even cost them a cent. 25% share, plus one share of Netstar, is being given by Altech to Thebe Investment Corporation and Identity Capital Partners.

The shares will initially be funded by Altech itself and the two black groups' payment of the stock will be recovered over the next 5 years, which will basically be done using the cash from the dividends that their shares which have been recently acquired will generate.