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Article: Danka Announces Sale of Central and South American Business Units; Transaction Completed with Toshiba for $10 Million.
- Article from:
- Business Wire
- Article date:
- September 26, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ST. PETERSBURG, Fla. -- Danka Business Systems PLC (NASDAQ: DANKY) today announced the sale of its subsidiaries operating in Central and South America to Toshiba America Business Solutions, Inc., ("TABS") for $10 million in cash. The purchase price is subject to a $1 million holdback for a period of up to one year for potential contingencies. The transaction encompasses Danka's operations in Puerto Rico, Mexico, Panama, Brazil, Venezuela, and Chile.
"The sale of these businesses builds on earlier dispositions and culminates our efforts to narrow the scope of the Americas Group to our largest and, historically, most profitable entity, the United States," said ...