- Altron Limited extends finalisation date for disposal of ATM hardware and support business.
- Regulatory approvals for the transaction have been received, with one outstanding condition related to VAT registration.
- Altron and NCR remain committed to closing the transaction by the extended date of 30 June 2023.
Altron Limited, a leading technology solutions provider, has announced an extension of the finalisation date for the disposal of its ATM hardware and support business. The update follows a mutual agreement between Altron and NCR Corporation, a global leader in omni-channel solutions, to allow more time for the fulfillment of outstanding conditions precedent to the transaction.
The initial announcement regarding the disposal of the ATM hardware and support business of Altron Managed Solutions was made on 24 April 2023. It outlined the extension of the finalisation date to 31 May 2023, enabling both parties to meet the necessary conditions precedent.
In the most recent update, Altron and NCR confirm that all regulatory approvals for the transaction have been received, including the last outstanding approval from the Namibian Competition Commission. However, there remains one outstanding condition regarding the newly-formed South African company, wholly-owned by NCR, which is awaiting Value Added Tax (VAT) registration with the South African Revenue Services.
To accommodate this outstanding condition, Altron and NCR have mutually agreed to extend the finalisation date by an additional month to 30 June 2023. Both companies remain committed to closing the transaction as soon as possible, recognizing the strategic importance of the deal for their respective businesses.