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Johnson Service Group plc Announces Disposal Of Alex Reid Limited To Christeyns UK Limited


Thursday, 6 Dec 2012 02:05am EST 

Johnson Service Group plc announced that it has completed the sale of the entire share capital of Alex Reid Limited ("Alex Reid") to Christeyns UK Limited ("Christeyns") (the "Disposal"), for a cash consideration of GBP2.1 million on a debt free basis (the "Consideration"), which was paid on completion of the Disposal. The proceeds of the Disposal will be used to reduce the Company's debt. The Consideration is subject to adjustments to reflect the actual net assets of Alex Reid at completion. Alex Reid is a drycleaning and laundry consumables supplies and machinery business, which formed part of the Company's Drycleaning business. 

Company Quote

60.0
-1.25 -2.09%
5:28am EDT