Stellar finalises Tellumat disposals

print

Stellar finalises Tellumat disposals

Published Date: 2021-01-13 | Source: Stephen Gunnion | Author: Stephen Gunnion

Stellar finalises Tellumat disposals

Tellumat sold its Air Traffic Management and Defence and Security businesses to Hensoldt South Africa for an undisclosed sum.

Stellar Capital Partners' Tellumat division has finalised the disposal of its Air Traffic Management and Defence & Security businesses to Hensoldt South Africa. The sale was first announced last June.

Tellumat, an electronics company, is 49% owned by Stellar, an investment holding company. The deal arose due to the complementary businesses of Tellumat and Hensoldt, including sensors and communications, particularly for unmanned aerial vehicles and other airborne intelligence, surveillance and reconnaissance (ISR) applications. At the time the deal was announced, Helsoldt said the acquisitions would complement its portfolio and expand its footprint on the continent.

Tellumat was established in 1963 as Plessey South Africa, and became Tellumat in 1998. As it is not a subsidiary of Stellar, the company wasn't required to disclose the terms of the deal.

Its shares fell 1.4% to 72c yesterday.





Similar Stories