Action announces Spanish sale – again

To same company

Action Computer Supplies today announced that it "has entered an agreement" to sell its Spanish subsidiary
Action Computer Supplies SA to Bechtle AG, a Neuer Markt-listed IT distributor.

The deal is subject only to Action shareholder approval.

In a statement to the Stock Market, Action said the deal was announced on April 12. So what's new? The company says it is to issue "shortly" a circular, containing details of an EGM... perhaps this is the new(s) point.

The disposal is certainly proceeding a little more slowly than originally planned: on April 12, Action said it expected the deal to finalise in 30 days.

Bechtle is paying £5m cash for Action SA, an 80-person operation. The Spanish business had net revenues of £15.8m and operating profit of £300K for the year to August 2000. Net liabilities were £19K. ®