Brief: Rapala Acquires 49% Of DQC International Corp And Invests In The Company

Rapala VMC Oyj

09/07/2019 15:06

July 9 (Reuters) - Rapala VMC Corp  RAP1V.HE :
    * REG-RAPALA VMC CORPORATION (“RAPALA”) ACQUIRES 49% OF DQC
INTERNATIONAL CORP, OWNER OF 13 FISHING ROD AND REEL BRAND,
INVESTS IN THE COMPANY AND CONCLUDES A PERPETUAL WORLDWIDE
LICENCE AND EXCLUSIVE DISTRIBUTION AGREEMENT EXCLUDING THE USA
    * AGREED TO LEND FUNDS TO RECAPITALIZE COMPANY
    * 10 MILLION US DOLLAR CASH INJECTION FROM RAPALA WILL
FACILITATE
13 FISHING'S GROWTH BOTH IN USA AND INTERNATIONAL MARKETS
    * JAMES COBLE WILL RECEIVE 225.000 SHARES OF RAPALA VMC
CORPORATION, WHICH COMPANY HAS AS TREASURY SHARES.
    * RAPALA AND REMAINING 51% SHAREHOLDER MR. JAMES COBLE HAVE
ALSO
BOTH AGREED TO INJECT MORE CAPITAL INTO 13 FISHING AND RAPALA
HAS AGREED TO LEND FUNDS TO RECAPITALIZE COMPANY
    * SUBJECT TO FULFILLING CUSTOMARY CLOSING CONDITIONS,
TRANSACTIONS
REFERRED ABOVE ARE EXPECTED TO CLOSE BY END OF Q3 2019
    * TO BUY 49%OF DQC INTERNATIONAL CORP FROM JAMES COBLE AND
MINORITY SHAREHOLDERS MR. PHIL FEIGH CHU AND MR. YU-WEI CHANG

Source text for Eikon:  ID:nGNE8dNz0K 
Further company coverage:  RAP1V.HE 

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