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Stellar Capital exits 51.1% Tellumat stake

Stellar Capital Partners has sold a 51.1% stake in Tellumat, an unlisted South African electronics manufacturer, to Masimong Technologies, a Black Economic Empowerment group, in a R180 million (approximately $11.4 million) deal.Stellar retains a 48.9% share in the company and reportedly has no plans to divest itself further of the asset. Additional terms of the deal were not disclosed.

In December last year, Stellar Capital expanded its holding in Tellumat, spending $10.5 million to acquire a combined 63% stake from Asgard Capital and Mokomo Component Holdings. By selling a significant stake to Masimong, Tellumat has the appropriate empowerment levels to win state tenders.

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