Options sells Dubai venture

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Options Cassoulides Global Publishing Ltd, a subsidiary of Options Cassoulides Pcl (OPT) has agreed to dispose its 75% participation in the issued share capital of NPI FZ-LLC, a Dubai-based company, for a consideration of USD 1.5 mln.

NPI FZ-LLC is a publishing company of tourism and other specialized magazines. The 75% participation in NPI FZ-LLC was acquired by OPT according to its announcement in December 2005 for US 700.000.

From the above agreement, the Group will have a net cash flow of US 700.000 whilst OPT is estimated to book a profit of US 200.000 for 2007. The agreement is expected to be finalized by 2 March 2007.

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