Date: Tuesday April 11, 2006 09:47:00 am
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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.
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