Corporate Express announced today that it has completed the sale of ASAP Software to Dell Inc, as published on August 2, 2007. This divestment marks a significant next step in bringing more focus to our business to be a single-source office products and services supplier.
ASAP Software has been sold for USD 340 million. Proceeds of around USD 300 million will be used to pay down debt, which is predominantly denominated in US dollars. The book profit of about EUR 70 million will be included in our fourth quarter results under Other Financial Results.