First South Africa News

First South Africa Corp. to Acquire 81% Stake in Leisureplanet, Leading Internet-based Global Travel

24th Feb 1999 Press Release Travel Technology News

First South Africa Corp., Ltd. (Nasdaq : FSACF) today announced that it has acquired 81% of Leisureplanet (www.leisureplanet.com), of London and Cape Town, a leading Internet-based global travel agency, from Twine Media Ltd., a subsidiary of Rembrandt Group, Ltd., a major South Africa-based conglomerate. First South Africa acquired its stake through an injection of capital into Leisureplanet. Financial terms of the transaction were not disclosed.