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    Home » Investment » Alviva shares leap higher on R3-billion take-private plan

    Alviva shares leap higher on R3-billion take-private plan

    By Duncan McLeod30 June 2022
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    Alviva Holdings CEO Pierre Spies

    Shares in Alviva Holdings, the JSE-listed parent of technology distributors Axiz, Pinnacle and Tarsus, leapt higher on Thursday after the group received a proposal from a black-led consortium to buy it out.

    Alviva said it has received a “non-binding expression of interest” from investors that include Tham Investments and DY Investments 3. The consortium’s proposal is for a cash offer of R25/share, a premium of 30% to the average price over the past 30 days. At that price, the deal values Alviva at just shy of R3-billion.

    Alviva’s share price leapt 18% on the news, and was last trading at R23/share.

    The proposed transaction will result in Alviva becoming a majority black-owned, privately held ICT champion

    If the deal goes ahead, Alviva will be delisted from the JSE.

    Tham and DY are two major shareholders and empowerment partners of Alviva that currently own about 18.6% of the issued share capital of the company. That means that to acquire the remaining 81.4% at the R25/share proposed offer price, the consortium will have to stump up about R2.4-billion. The consortium has received an offer of funding from Absa, subject to the fulfilment of various conditions.

    “The proposed transaction will result in Alviva becoming a majority black-owned, privately held ICT champion, repositioning the company to drive the strategic direction of the business for future growth and expansion and also allows Alviva shareholders to exit for a cash consideration that is at a premium to the closing price of R19.50 as at 24 June 2022,” Alviva said in a statement to investors.

    The consortium has invited key management of Alviva to participate in the proposed deal – discussions to that effect will now begin. Alviva is led by CEO Pierre Spies, pictured above.

    Alviva must appoint an independent board and an independent expert to “opine” on the offer and must get the approval of shareholders and regulators for the deal to proceed.  – © 2022 NewsCentral Media

    Now read: Alviva wraps up Tarsus acquisition



    Alviva Alviva Holdings Axiz DY Investments 3 Pierre Spies Pinnacle Pinnacle ICT Tarsus Tham Investments
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