IKON Completes Sale of Retained U.S. Lease Portfolio to GE Capital Solutions
Press release from the issuing company
MALVERN, Pa.--April 3, 2006-- IKON Office Solutions, the world's largest independent channel for document management systems and services, today announced the completion of its previously announced sale of over $300 million of U.S. lease receivables to GE Capital Solutions. The transaction, effective as of April 1, 2006, is expected to net IKON approximately $70 million after payment of related debt and taxes.
IKON's management will discuss the transaction announced today in further detail when it hosts its second quarter earnings conference call on April 27, 2006 at 10 a.m. E.T.
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