Latest News
Systemax Receives Negotiated Irrevocable Binding Offer for French Reseller Business
Monday 16 July 2018

16 July 2018 - US-based industrial and technology products provider Systemax Inc. (NYSE: SYX)  has received an irrevocable binding offer from German IT systems integrator Bechtle AG to acquire Systemax's France-based Inmac Wstore IT value added reseller business, the company said.

Pursuant to the offer, Systemax has the right to sell Inmac Wstore to Bechtle on the terms specified in the offer, and it has granted Bechtle exclusivity for a limited period.

Pursuant to applicable French law, acceptance or rejection of the offer by Systemax will only follow consultation with Inmac Wstore's works council, which is expected to take up to several weeks.

Upon conclusion of the works council consultation and if the offer is accepted by Systemax, it is expected the parties would enter into a definitive agreement, at which time additional details would be disclosed.

The proposed sale would then be subject to customary closing conditions and deliverables, including receipt of France regulatory approvals, and it would be expected to close in late 2018.

Disclosure of this offer at this time allows Bechtle to fulfill its disclosure obligations in Germany.

Systemax, through its operating subsidiaries, is a provider of industrial products in North America and technology products in France, going to market through a system of branded e-commerce websites and relationship marketers.

The primary brands are Global Industrial and Inmac Wstore.
Details
Date Published: 16/07/2018
Target: Inmac Wstore IT
Country: USA
Sector: IT/Online Services
Type: Divestment
Financing:
Status: Bidding
Vendor: Systemax Inc
Buyer: Bechtle AG
Comment:
Terms of the deal were not disclosed

Options