Brief: Gigamedia enters into mutual termination agreement with Strawberry Cosmetics shareholders

GigaMedia

07/10/2015 11:10

Oct 7 (Reuters) - Giga Media Ltd  GIGM.O : 
 * Gigamedia ltd - entered into a mutual termination agreement with shareholders 
   of strawberry cosmetics holding to terminate a share purchase agreement 
 * Gigamedia ltd - share purchase agreement previously entered into on June 26, 
   2015 for co to acquire a 70% equity interest in strawberry cosmetics 
 * Gigamedia ltd - mutual termination due to recent slowdown in global economy 
   and stock market resulting in a change in business development strategy 
 * Gigamedia ltd - in connection with termination, co will pay $2 million 
   consideration to the shareholders of strawberry cosmetics 
 
* Source text (http://1.usa.gov/1WMEzit) 
* Further company coverage  GIGM.O  ((Bengaluru Newsroom; +1 646 223 8780))