|
|
|
21 Nov 2008
Pan-European distributor Magirus claims it has reduced its exposure to the turbulent financial markets by buying out the minority stake held by US-listed technology firm Agilysys.
The three families Alghanim, Magirus and von Kuenheim have between them bought Agilysys’ 20.2 per cent shareholding. This means they own all of the privately-held distributor’s shares.
Earlier this week Agilysys announced it had received a letter from NASDAQ stating it had not received its quarterly report for the three months to 30 September. Agilysys went on to say the delay in filing is related to the pending resolution of the accounting treatment for its stake in Magirus.
Further reading
Magirus said the move would reduce its exposure to the uncertainties impacting stock markets.
Fabian von Kuenheim, chairman of the board of Magirus AG, said. “With this transaction we additionally realise a contribution to equity capital by our shareholders and thus reduce, as in the case of the withdrawal of our current stock exchange-listed (NASDAQ) shareholder Agilysys, the influences on our company of the turbulence which has hit the financial markets.”
The Alghanim family now holds 30 per cent of Magirus shares, with the Magirus and von Kuenheim families owning 27.5 per cent and 42.5 per cent respectively.
Related articles
In this video find out about the fast-growing Chinese vendor's plans for market domination and how the channel is its route of choice
Find out what gifts Acer has in store for partners for 2012 in this exclusive roundup of its recent conference
CRN's premier networking event is back on 17 May at the Ricoh Arena
Date: Thu 17 May 2012
Channel fighters preparing to square up once more on 24 May
Date: Thu 24 May 2012
The proliferation of endpoint devices within the enterprise has highlighted the shortcomings of one of the traditional approaches to data security
This Forrester report compares the costs and benefits of legacy email and productivity software with Google Apps
Dave discovers that rozzers are seemingly living in the technology dark ages
Mark Needham, founder of distributor Widget, argues that John Browett leaves for Apple with Dixons in better shape than when he arrived
|
|
|
Do you agree?
Have your say