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Image header Agence Europe
Europe Daily Bulletin No. 8058
Contents Publication in full By article 31 / 40
ECONOMIC INTERPENETRATION / (eu) imaging

The Belgo-German company AGFA-GEVAERT that has just announced 4000 job losses throughout the world in the near future (including 750 in Flanders in Belgium) has made three large-scale merger and acquisitions deals. The first is the acquisition of US desktop pre-press systems company AUTOLOGIC INFORMATION INTERNATIONAL ($81 million turnover in last financial year, 370 employees) into the US subsidiary AGFA CORPORATION. The group will be launching a bid for all the ordinary shares in circulation of AUTOLOGIC at $7.127 per share, making the transaction worth $42.5 million. The deal will be followed by a merger between AGFA's US subsidiary and AUTOLOGIC. In a separate development, AGFA-GEVAERT will be taking a minority holding in the Israeli company MEDIVISION MEDICAL IMAGING LTD, that specialises in the design and production of imaging equipment such as digital cameras and digital imaging equipment for the ophthalmologic industry. AGFA will be investing up to EUR 3.9 million in three tranches on the basis of EUR 2.10 per share which will take its holding to 25%. Finally, AGFA-GEVAERT has signed a letter of intention to acquire its Canadian partner MITRA INC, one of the leading suppliers of IT management systems and medial imaging.

Contents

A LOOK BEHIND THE NEWS
THE DAY IN POLITICS
GENERAL NEWS
ECONOMIC INTERPENETRATION