American Printer's mission is to be the most reliable and authoritative source of information on integrating tomorrow's technology with today's management.

Scitex sells remaining Creo shares

Sep 1, 2003 12:00 AM


         Subscribe in NewsGator Online   Subscribe in Bloglines

Scitex Corp. (Tel Aviv, Israel) has sold the remainder of its shares of Creo Inc. (Vancouver) through the facilities of the Toronto Stock Exchange in an arranged sale to various financial institutions in Canada. The 3.25 million common shares, which represented approximately 6.5 percent of the outstanding Creo shares, were valued at approximately $30.9 million. According to Scitex CEO Nachum “Homi” Shamir, the company will use the net proceeds from this transaction to improve its cash position, support its portfolio companies if needed and for other general company purposes.