|
|
Bigben to Spin-Off Handset Distributor Subsidiary
Published on:
European video games distributor, Bigben Interactive has announced that it is splitting off its mobile phones distribution subsidiary into a separate company.
The company says that the extraordinary sales growth of mobile phone distribution which reaches EUR364 million for the first half of 2012 actually disturbed the outlook of the Group strategic sales and generated very high working capital requirements to cover inventories.
The Bigben Interactive Group has therefore considered a spin-off process of this operation followed by a partial divesture in favour of its management.
Following the spin-off, the subsidiary management will buy a 5% stake in the company for EUR1.5 million and have options to increase their holding by a further 46% for EUR13.8 million over the next 3 years - resulting in the management having control of the company.
Tags: [bigben interactive]
|
| |
|
| |
|
| |
|
| |