Business
Sale of Eastern Europe Trademark
Sale of Eastern Europe Trademark.
About this update from Ekf Diagnostics Holdings Plc
[{"type":"text","content":"\n \nEmbargoed Release: 07:00hrs Monday 3 December 2007\n\n International Brand Licensing plc \n\n (`IBL' and the `Company') \n\n Sale of Admiral trademarks in Eastern Europe \n\nInternational Brand Licensing Plc today announces the sale of its Admiral\ntrademarks in a number of eastern European states to Diethnis Athlitiki Ltd\n(\"Diethnis\"), Admiral's licensee for Turkey. In return for a cash consideration\nof £350'000 Diethnis has acquired the Admiral trademarks in the former\nYugoslavian states, Romania, and Bulgaria, having acquired the marks for Greece\nand Cyprus in June 2006.\n\nTony Hutchinson, IBL Chief Executive, comments: \"We are delighted to have\nconcluded this agreement with Diethnis, Admiral's partner in the eastern\nMediterranean since 1996. Diethnis has successfully built Admiral into a\nmainstream sportswear brand in Greece, and we are pleased that the brand will\nnow be developed in these emerging markets.\n\n\"Historically Admiral has never derived any income from any of these markets,\nso to generate a cash sum of this size represents an excellent transaction for\nthe Company. We will continue to seek opportunities to further strengthen the\ncompany's cash position and balance sheet going forward.\"\n\n -Ends- \n\nFor further details contact:\n\nTony Hutchinson: 0041-794-689450\n\nAdam Reynolds: 0207-245-1100\n\n\n \n ","length":1778,"tagName":"div"}]