CHS Electronics has been in talks with UK multimedia distributor Appropriate Technology (Aptec) with a view to buying the firm, following the acquisition of its Middle Eastern subsidiaries.
In June 1998, CHS purchased Aptec's operations in Egypt, Saudi Arabia and Dubai and is expected to complete the collection by buying the London company.
As PC Dealer went to press, CHS' Website already listed Aptec as one of the distribution giant's four UK subsidiaries, along with CHS Plc, Metrologie and Karma. It had a direct link to the Aptec Website with Ali Bagdhadi, managing director of Aptec, listed as subsidiary manager of the unit.
However, Peter Rigby, director of marketing and communications at CHS, refused to confirm that Aptec UK had been bought by CHS, nor would he comment on plans to buy the unit. 'As of today, Aptec is still an independent company,' he claimed.
Bagdhadi, who runs both the Middle Eastern units and Aptec UK from CHS' London office, added: 'We have announced nothing to that effect. I am employed by both CHS and Aptec and so cannot comment on whether Aptec will be bought. There is nothing at the moment that we need to confirm.'
He claimed Aptec Plc's listing as a CHS UK division was 'a mistake'.
In a move that would improve CHS' total liquidity, IBM has extended its credit facility for the distributor totalling $250 million, to fund its growth plans.
The credit line arrangement will give CHS working capital for several divisions. IBM global finance will fund working capital needs including inventory and accounts receivable.
During the first quarter of this year, CHS is expected to conclude a deal with Pinacor, the US distribution arm of reseller MicroAge (PC Dealer, 13 January).
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