CHS Latin America sold for cash

MBO planned down Mexico way

CHS Electronics plans to sell its majority interest in certain Latin American businesses. The troubled Miami-based distributor today said in a statement that it had signed a non-binding letter of intent to make a sale to a team of senior managers in the region. Under the terms of the cash deal, CHS would keep a 49 per cent interest in the operations. The ecommerce part of the Latin American business would be made into a new company. CHS would own 51 per cent, and the management group 49 per cent. Gonzalo deVelasco, MD of CHS Mexico, and Ray Bautista, CFO of CHS Latin America, were said to be leading the management team. The move follows the sale of CHS's UK subsidiary CHS Electronics Plc earlier this week. ®

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