Spar Group sells majority share in South Africa’s Meridian Group for R181M

Spar Group announced the sale of its majority share in South Africa’s Meridian Group to the minority shareholder Lindicom for R181M and the sale of SGRP Brasil Participacoes for 58.9M BRL to a minority shareholder. These transactions have been approved by the SPAR board of directors and are expected to close in the second quarter. As part of the divestiture agreements, Australia and The Meridian Group have also entered into software as a service agreements with SPAR Group to continue the use of SPAR’s technology. This underscores the value and unique capability of SPAR’s software.