RM completes multiple sales

4th Jan 2012 14:31

RM has completed the sale of the business of Dacta and the minority shareholding in the LEGO Education Europe joint venture. Prior to the joint venture, Dacta distributed LEGO products and a number of other brands including Tolo, which Dacta continued to distribute after the establishment of LEGO Education Europe.Certain non-core elements of the Dacta business have now been sold to Tolo Toys Learning. The consideration was €0.27m in cash, paid in two stages. RM's 49% stake in LEGO Education Europe has been sold to LEGO A/S for a total cash consideration of €4.4M, with half for shares and associated rights and half for debt repayment. In total, the disposals had generated €4.1M by the end of October. On a consolidated basis the businesses are expected to be loss making for the fourteen months to 30 November 2011.The share price rose 4.31% to 60.5p by 14:39.__NR