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Getronics sells majority stake in French operations to APX Synstar
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    • AMSTERDAM, Sept 27 (AFP) Sep 27, 2006
     Dutch information technology consultancy Getronics said on Wednesday that it had received a binding offer from IT company APX Synstar for its operations in France.

    APX Synstar will receive a majority stake in the French operations and Getronics will keep a 33-percent interest in the subsidiaries. As part of the deal APX Synstar will transfer its business activities in Belgium to Getronics.

    Financial details of the deal were not divulged. The transaction is expected to be completed in the fourth quarter of this year.

    Getronics' French operations are expected to report a net loss of 8.0 million euros (10.0 million dollars) for the full year 2006 with 65 million euros in projected revenues. Getronics said it expects to write down some 15 million euros in goodwill as a result of the transaction.




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