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Scapa Group plc Disposes Scapa Holdings Georgia, Inc.


Friday, 26 Apr 2013 02:01am EDT 

Scapa Group plc announced that the Company is disposing Scapa Holdings Georgia Inc and its subsidiary undertaking (Georgia) to Industrial Legacy Holdings, Inc for a total consideration of USD 250,000 payable in cash at completion. Industrial Legacy Holdings, Inc is part of the insurance and reinsurance specialist Armour Group. Georgia's business and assets were sold in 1999 and since that date, Georgia has not carried on any trade but has continued to commit considerable management time in the overseeing of its legacy liability litigation defense in the United States, incurring legal costs and administrative burden associated with the litigation. 

Company Quote

141.0
-2.25 -1.57%
12:15pm EDT