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The Allied Defense Group Closes Sale of The VSK Group.
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PR Newswire
- Article date:
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September 18, 2007
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Copyright informationCOPYRIGHT 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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VIENNA, Va., Sept. 18 /PRNewswire-FirstCall/ -- The Allied Defense Group, Inc. announces it has closed the previously announced sale of its Belgium subsidiary, The VSK Group, to Xtralis Pty Ltd. Xtralis Pty Ltd is a global leader in security surveillance systems.
ADG received euro 33.6 million (approximately $46.6 million) at closing and another euro 2.0 million (approximately $2.8 million) has been deposited into escrow in accordance with the Stock Purchase Agreement, for a total of euro 35.6 (approximately $49.4 million).
Major General (Ret) John J. Marcello, President and Chief Executive Officer of The Allied Defense Group said, "The close of this transaction ...
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