Friday, EDCI Holdings, Inc. (EDCI) said that it has signed a definitive asset purchase agreement for the sale of EDC, LLC's distribution operations located in Fishers, Indiana, U.S. supply agreements with Universal Music Group, the equipment located in its Fishers, Indiana distribution facility and certain manufacturing equipment located in its Kings Mountain, North Carolina facility, as well as the transfer of U.S. customer relationships to Sony DADC US Inc. for $26.0 million in cash.
The transaction includes potential contingent consideration of up to $2.0 million in cash related to the transferred operations achieving certain additional criteria. The transaction is currently expected to close on or about December 31, 2008.
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