The Channel logo

News

By | Kelly Fiveash 21st December 2007 10:47

Fayrewood waves au revoir to French periperals unit

DCC snaps up firm for €12m

Fayrewood Plc confirmed yesterday that it had sold French outfit Banque Magnetique SAS to DCC Plc's retail disty subsidiary.

Gem Logistics scooped up the consumer electronics and IT peripherals firm after DCC paid Fayrewood €12m to complete the deal.

A further €500,000 will be handed over on 30 June next year subject to Banque Magnetique racking up pre-tax profit of at least €5.5m.

In recent weeks, Fayrewood has been fueling speculation that it will be imminently bought out.

It had initially been shy about revealing which firms it was in talks with. However, earlier this week it confirmed that North Atlantic Value LLP was one possible bidder for the Aim-listed company.

Fayrewood shares are currently trading at 124 pence on the London Stock Exchange, up nearly two and half per cent on the previous close. ®

alert Send corrections

Opinion

Love

Chris Mellor

Tandberg and Sphere3D deals offer hope after 18 bad ones
Fraud image
Openstack log

Features

No, silly... he was the fall guy for years of Finnish folly
Fraud image
Frodo and the Ring
Microsoft's strategy is to make Store apps popular. Good luck with that