Fujitsu Siemens Computers concludes unique enterprise development shareholding transaction with Thuthukani Investment Consortium.

The deal is being touted as the first Multinational Tier One Vendor to conclude an Empowerment deal at equity level, showing the IT manufacturers commitment to South Africa.  The deal will see Fujitsu Siemens Computers (Holding) B.V. 25% plus one share in Fujitsu Siemens Computers (Pty) Ltd to the Thuthukani Investment Consortium (Pty) Ltd. This consortium combines the resources of Thuthukani Information Technology Services (Pty) Ltd and Amava Holdings (Pty) Ltd with an additional broad-based black economic empowerment trust.

The Thuthukani Investment Consortium set up a special purpose vehicle to facilitate the acquisition. Thuthukani and Amava together contributed unencumbered cash.

Bernd Bischoff, President and CEO, Fujitsu Siemens BV said: “The South African and African markets are extremely important to our overall business strategy. We take our sense of responsibility very seriously and we wish to have a positive influence on every aspect of the business environments in which we operate. Through engaging in a transaction of this nature, I believe that we are making a positive contribution to South African society.”