Online retailer Komplett ASA has announced it is selling its operations in Ireland, the Netherlands and Belgium to ParaDigit Holding for an undisclosed sum.
Komplett operates an Irish web store (komplett.ie), which sells technology products.
Under the terms of the deal, Komplett ASA will sell Komplett BV, which operates its three web shops www.komplett.nl, www.komplett.be and www.komplett.ie, to ParaDigit.
Komplett and ParaDigit have also signed a licence agreement that entitles ParaDigit Holding to use the Komplett name on the web shops being acquired.
As part of the agreement, Komplett ASA has an option to re-purchase the web shops on 1 April, 2013.
The transaction is scheduled for 1 April, 2010. During the period up to the transfer, the business will be operated by Komplett as usual, Komplett ASA said.
Article courtesy of businessandleadership.com