Brief: Gigamedia announces termination to buy Strawberry Cosmetics
07/10/2015 13:00
Oct 7 (Reuters) - Giga Media Ltd GIGM.O : * Gigamedia announces termination to acquire Strawberry Cosmetics * Says total consideration payable by the Gigamedia for the acquisition was approximately US$93.1 million * Entered into mutual termination agreement with shareholders of Strawberry Cosmetics Holding Ltd to terminate share purchase agreement * Will pay US$2.0 million consideration to the shareholders of Strawberry Cosmetics in connection with the termination * Drastic slowdown in global economy, stock market resulted in a change in business development strategy on the part of Gigamedia * Source text for Eikon ID:nPnRQZGp * Further company coverage GIGM.O ((Bengaluru Newsroom; +1 646 223 8780))