Esko-Graphics Gets Funding from BARCO, KIRKBI Takes More Equity
Press release from the issuing company
Kortrijk, August 28, 2002. In line with its strategy to focus on image processing, BARCO has reduced its share in Esko-Graphics from 49% to just below 20%. Esko-Graphics is the result of the merger between 2 key players in the graphics industry: Barco Graphics, one of the former key activities of BARCO, and Purup-Eskofot of Denmark, a subsidiary of the KIRKBI holding company.
To come to this reduction to just below 20%, BARCO has made an agreement with KIRKBI A/S, the shareholder who had an interest of 51% in Esko-Graphics, whereby KIRKBI has acquired 29% of the Esko-Graphics shares from BARCO. In this way KIRKBI has increased its participation from 51% to just above 80%. Following the agreement both BARCO and KIRKBI have also granted a loan to Esko-Graphics to fund its continued operations. BARCO has granted this loan from the proceeds of the sale.
This agreement further increases the strategic concentration of BARCO on image processing. The additional financial means resulting from this agreement will also strengthen Esko-Graphics as a successful player in the prepress market under the management of its new CEO Kim Graven-Nielsen.
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