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2019
R’000 |
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2019
R’000 |
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| Deferred payment |
– |
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7 335 |
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– |
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– |
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On 1 October 2018 (effective date and acquisition date) AfroCentric concluded agreements governing the acquisition of 82.8% of the iThrive Business Solutions Group of companies. The Group is determined to pursue partnerships, acquisitions and mergers in order to drive toward value chain optimisation and this acquisition bears testament to this.
The purchase consideration for iThrive Business Solutions Group was R38 million in cash consideration.
The remaining shares in iThrive Business Solutions were acquired on 1 October 2019 for R9.6 million. The deferred payment was thus settled. |