Corporate Express NV announced today that it has completed the sale of its subsidiary Veenman BV in the Netherlands to Xerox Corporation, as announced on 16 April 2008.
This divestment represents a further step in Corporate Express' drive to become an even more focused global office products company.
Veenman BV has been sold for €43 million. The cash proceeds from this transaction will be used for debt reduction. The book profit of around €40 million will be included in the second quarter results.