Ikon completes deal with GE unit April
06:Ikon Office Solutions Inc. said late Monday it has completed the
previously announced sale of more than $300 million of U.S. lease
receivables to GE Capital Solutions. The Malvern, Pa.,
provider of copiers, printers and related products and services,
expects the transaction, which closed April 1, will net it about $70
million after payment of related debt and taxes.Ikon will discuss the
deal during its second-quarter earnings conference call on April 27.
The lease receivables are payments Ikon was scheduled to get from
customers on equipment leases, Ikon has said.