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Article: Garmin(R) Signs Letter of Intent to Acquire Danish Distributor.
- Article from:
- PR Newswire
- Article date:
- October 11, 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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CAYMAN ISLANDS, Oct. 11 /PRNewswire-FirstCall/ -- Garmin Ltd. announced today that it has signed a letter of intent for the proposed acquisition of Fairpoint Navigation A/S ("Fairpoint"), the distributor of Garmin's consumer products in Denmark. The completion of the acquisition is subject to the negotiation and execution of a definitive acquisition agreement, the completion of legal and financial due diligence and customary closing conditions. The acquisition is expected to be completed in January 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20061026/CGTH082LOGO)
Dr. Min Kao, chairman and CEO of Garmin Ltd., said, "The acquisition of Fairpoint ...