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Article: AUTOLOGIC HOLDINGS PLC - Conclusion of involvement with GAL.
- Article from:
- PR Newswire UK Disclose
- Article date:
- July 3, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. 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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3rd July 2007
AutoLogic Holdings plc ('AutoLogic' or 'the Group')
Global Automotive Logistics SAS ('GAL')
An agreement has been reached today in Paris whereby the existing shareholders
of GAL and its creditors agree that the business will be taken over by Vehicle
Services International (VSI), a joint venture between Wallenius Lines AB and
South American partner Antelo SA.
As previously announced, AutoLogic's investment in GAL has already been written
down to zero and the Group has no liability for GAL's debt.
John Merry, AutoLogic Holdings Chief Executive said:
...