Neville John Bester, Cameron Vincent McCulloch, Morne Nel and Geoffrey Michael Glass made an offer to acquire a 47.23% stake in OneLogix Group Limited (JSE:OLG) for ZAR 410 million on October 20, 2022. The offer price is ZAR 3.3 per share. The transaction will be financed through debt funding secured from The Standard Bank of South Africa Limited.

The transaction is subject to apporval by the shareholders of OneLogix. The transaction is subject to regulatory and statutory approvals. A shareholders meeting will be held on December 15, 2022.

The transaction is expected to close on February 20, 2023. Cliffe Dekker Hofmeyr acted as legal advisor and Nodus Capital (Proprietary) Limited, Merchantec (Proprietary) Limited acted as financial advisors to OneLogix