DANKA SELLS AUSTRALIAN UNIT

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DANKA SELLS AUSTRALIAN UNIT

 user 2006-07-18 at 11:31:00 am Views: 56
  • #16200

    Danka sells Australian unit
    JUL.06
    Document-services company Danka Business Systems Plc. on Friday said it
    agreed to sell its Australian unit to Onesource Group Ltd. for $12.6
    million in cash.Danka said it sold Danka Australasia PTY Ltd., which
    had revenue of $50.2 million and pretax earnings of $1.4 million in the
    12 months ended March 31, because the unit did not fit its focus on
    Europe and the United States.Danka said it plans to use proceeds for
    general corporate purposes.The deal is expected to close by July 17,
    pending financing agreements.American depositary shares of London-based
    Danka were unchanged at $1.28 in early trading on the Nasdaq.