Logitek Plc has paid MBS Plc UKP1m cash for Microtex, and MBS is retaining Microtex’s debt and the stock not being acquired by Logitek (CI No 1,303), which is expected to realise UKP2.5m; it will retain the leasehold property in Bracknell, which Microtex will shortly vacate, and will either be occupied by another MBS operation or sold, and MBS looks to gain a net UKP3m from the sale before taking into account the property and other non-trading assets that may be sold; the divestiture gets MBS out of computer distribution entirely and leaves it with three divisions – Engineering, including what is claimed to be the second biggest third party maintenance operation in the UK; Education & Training; and Cable Installation & Assembly.
