April 29 Bankrupt photography pioneer Eastman
Kodak Co said it will sell two of its remaining
imaging businesses to its UK pension fund for $650 million.
The agreement, subject to approval by the U.S. Bankruptcy
Court in Manhattan, also settles the fund's claims of about $2.8
billion against Kodak.
The settlement assures Kodak's continued operations outside
the United States, Chief Executive Antonio Perez said in a
Kodak has been trying to sell most of its consumer and
document imaging businesses and shift its focus to commercial
The two businesses being sold are personalized imaging,
which includes most consumer products and retail printing
kiosks, and its document imaging unit that makes scanners for
Kodak's commercial imaging business includes its graphic
communication, film and specialty chemical products.
Kodak last month amended its financing deal that required it
to raise at least $600 million from the sale of noncommercial
The company, which launched its first camera in 1888, was
unable to successfully shift to digital imaging and filed for
bankruptcy protection last year.
Its bankruptcy case is in Re: Eastman Kodak Co. et al, U.S.
Bankruptcy Court, Southern District of New York, No. 12-10202.