3rd Jul 2023 09:28
ME Group International PLC - Epsom, England-based instant-service equipment firm - Subsidiary ME Group Japan KK enters binding conditional absorption-type company split agreement to buy automated photobooth businesses owned by two Fujifilm Corp subsidiaries. Total consideration is capped at approximately GBP5.5 million. ME Group will fund the purchase through a new local loan facility or existing cash resources. Company expects to complete the transaction by the end of September, and says it could increase Asia Pacific revenue by between 20% and 30% and add about GBP2.2 million to pretax profit for the year ending October 31, 2024. Photobooths' average pretax profit was about GBP290,000 over the last three years ended March 31. Read More
