G&D swaps stakes in South African companies

MUNICH, Germany-German company Giesecke & Devrient (G&D) announced a deal whereby it will swap its interest in NamITech subsidiary Integrated Card Technology, a South African smart card supplier, for a strategic stake at the NamITech Holdings level.

G&D said the acquisition will strengthen its activities in East, West and Sub-Saharan Africa.

The value of the deal was not disclosed.