Mustek CEO and founder David Kan says the listed group does not have a majority stake in Comztek.

JSE-listed PC distributor Mustek aims to sell its stake in Comztek Holdings and Rectron Australia BV within the next year.

Mustek has started an “active” programme to locate buyers and complete its plan to dispose of the units, it says in its results for the year to June, which were published yesterday. Mustek owns about 42% of Comztek.

Almost two years ago, a bid by London- and Johannesburg-listed Datatec to buy Comztek, for R97 million, fell through. Mustek acquired the Comztek stake when it helped management purchase the company in 1999.

Comztek was established in September 1999, but was initially formed in 1995 as Comzlink, a subsidiary of Centera, which was owned by Siltek and Q Data. Four years after it was initially formed, Leen van der Bijl and current Comztek MD Paul Conradie bought out the distributor with Mustek’s assistance.

Mustek founder and CEO David Kan says the reason behind the sale is that Mustek does not have a controlling stake in the distributor. He is confident a deal will be signed in the next 12 months.

Uncertainty over Comztek deal

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