Fujitsu SA sells 25% stake to B-BBEE group

Fujitsu has sold 25 per cent of its South African subsidiary to Broad Based Black Economic Empowerment (B-BBEE) group Thuthukani Investment Consortium (TIC), supporting the South African Department of Trade and Industry’s policy of economic transformation.

The company said the sale would bring a transfer of skills and expertise to the consortium’s member businesses.

Fujitsu Siemens Computers had in 2008 sold 25 per cent plus one share in the South African subsidiary to the Thuthukani Investment Consortium, though the deal needed renegotiating after Fujitsu bought out Siemens in 2009.

Fujitsu SA managing director (MD) Quentin Schots said the firm took empowerment seriously, welcoming the “confidence that TIC has in us and we look forward to developing our relationship through mutually-beneficial projects”.

TIC MD Fannie Mahlangu said the consortium had “enjoyed a successful relationship with Fujitsu since the announcement of our initial investment in Fujitsu Technology Solutions in 2008”.

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