The Channel logo

News

By | John Oates 17th October 2006 11:58

Fayrewood flogs UMD

Board approves...

Distie Fayrewood is selling UMD, part of its Niche Distribution division, to Italian firm Esprinet for €79m.

Fayrewood gets €53.5m in cash plus a €3m divi, which has already been paid. Esprinet is also taking on debts of €25.5m.

The board decided the difficulty of finding an acquisition in order to create a pan-European distie, and its market rating, made it unlikely that it could fund takeovers with shares. Fayrewood also blamed margin pressure from "specialist and large multi-nationals" for the decision to sell.

Looking forward, the board will focus on improving profitability in Interface Solutions and Banque Magnetique in France and "maximising value in its investment in Computerlinks AG".

Fayrewood is holding an extraordinary general meeting on 6 November to vote on the sale, which is unanimously supported by the board.

See the whole statement here. ®

alert Send corrections

Opinion

Privacy image

Frank Jennings

Two working parties, ministers galore... but data transfer law remains in limbo
EMC_Unity_bezel

Chris Evans

It does simplify the hardware setup, whatever it is
A microscopic view of the biometric shark skin. Pic: James Weaver

Chris Mellor

Do something and stop faffing about in the bush league

Kat Hall

International system in general needs greater transparency

Features

Nerd fail photo via Shutterstock
Shouting match
Single market vs. rest of the world
hacker
Mostly it's financial crime. Here's what all the cool kids' terms mean in English
Apple logo. Pic: Blake Patterson
Plenty of bumps in the 40-year road for Mac makers