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2 months ago
BRIEF-Datatec says to sell Westcon-Comstor America business for up to $800 mln
June 6, 2017 / 5:18 AM / 2 months ago

BRIEF-Datatec says to sell Westcon-Comstor America business for up to $800 mln

June 6 (Reuters) - Datatec Ltd:

* Datatec - to sell Westcon-Comstor North America and Latam operations for up to $800 million and 10 pct of rest of westcon-comstor for $30 million to Synnex

* Datatec- to dispose of Westcon-Comstor business in North America ,Latin America for maximum consideration of $800 million, to sell 10% of remaining part of westcon synnex, for $30 million

* Maximum consideration of $830 million equates to an equity valuation of total Westcon-Comstor division of $1.1 billion

* Closing of transaction is subject to a number of conditions including shareholder and regulatory approvals

* Consideration includes a contingent element of up to $200 million payable in cash after determination of results for fy ending 28 february 2018

* Datatec anticipates that deferred and contingent cash payment of up to $200 million will be returned to shareholders in due course

* Expected date for completion of transaction is towards end of third calendar quarter of 2017 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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