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Article: Packard Bell NEC Receives $250 Million Investment From NEC Corporation and Groupe Bull; NEC To Take 52.81 Percent Interest In Company.
- Article from:
- Business Wire
- Article date:
- July 30, 1998
CopyrightCOPYRIGHT 1998 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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SACRAMENTO, Calif.--(BUSINESS WIRE)--July 30, 1998--Packard Bell NEC, Inc. announced today NEC Corp. and Groupe Bull will provide additional financial support for Packard Bell NEC to fund restructuring plans announced earlier this year.
The agreement calls for NEC Corp. to invest $225 million and Groupe Bull to invest $25 million.
"We have the advantage of having as our shareholders two of the world's technology leaders as our industrial and financial partners," stated Alain Couder, chairman of the executive committee of the board of directors for Packard Bell NEC. "This relationship ensures Packard Bell NEC maintains and expands its worldwide leadership and ...