Uni-Select Inc. Intends to Acquire 100% Interest in Uni-Select USA, Inc.
* Reuters is not responsible for the content in this press release.
BOUCHERVILLE, QUEBEC, Aug 27 (MARKET WIRE) --
Uni-Select Inc. (TSX: UNS) announces that it has made an offer to
purchase all of the outstanding shares of common stock of Uni-Select USA,
Inc.
Uni-Select Inc., through its subsidiary Uni-Select USA Holdings, Inc., is
currently the holder of 87% of the outstanding shares of Uni-Select USA,
Inc. The offer provides cash payment of the purchase price and is
extended to all shareholders of Uni-Select USA. The offer to purchase the
shares will expire at 5:00 p.m., Minneapolis, Minnesota time, on
Thursday, October 1, 2009 (unless otherwise extended).
In the event that, subsequent to the offer, Uni-Select becomes the holder
of more than 90% of the stock of Uni-Select USA, it will buy out all
remaining minority shareholders subject to applicable Delaware Statutes.
Members of the Buzzard family that are shareholders of Uni-Select USA to
the extent of 10%, have indicated that they will tender their shares and
accept the offer. However, Mr. Clay Buzzard, a director, remains a
significant shareholder of Uni-Select Inc.
Full ownership of Uni-Select USA will allow Uni-Select greater
flexibility in financial and administrative functions.
Uni-Select is a Canadian leader in the distribution of automotive
replacement parts, equipment, tools and accessories and, through
Uni-Select USA, Inc., the Company also provides services to customers in
the United States where it is the 7th largest distributor. The Uni-Select
NetworkTM includes over 2,500 independent jobbers and services 3,500
points of sale in North America. Uni-Select is headquartered in Montreal.
Uni-Select shares (UNS) are traded on the TMX.
Certain statements made in this press release contain forward-looking
statements which, by their very nature, include risks and uncertainties,
such that actual results could differ from those indicated in those
forward-looking statements. For additional information with respect to
the risks and uncertainties, refer to the Annual Report filed by
Uni-Select with the Canadian securities commissions. Unless required to
do so pursuant to applicable securities legislation, Uni-Select assumes
no obligation as to the updating or revision of the forward-looking
statements as a result of new information, future events or other
changes.
Contacts:
Uni-Select Inc.
Mr. Richard G. Roy
President and Chief Executive Officer
450-641-2440
Uni-Select Inc.
Mr. Denis Mathieu
Vice President and Chief Financial Officer
450-641-2440
www.uni-select.com
Copyright 2009, Market Wire, All rights reserved.
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