Quintex Entertainment Inc.Quintex Entertainment Inc. reported June 5 that its board of directors had approved the sale of the company's operating assets Operating Assets Another term for working capital. for over $65 million in cash in two separate transactions. QEI QEI Qualified Elevator Inspector (NAESA) QEI Quod Erat Inveniendum (Latin: Which Was to Be Found Out) QEI Queen Elizabeth Islands has reached an agreement with FHI FHI Family Health International FHI Fuji Heavy Industries Ltd FHI Food for the Hungry International FHI Florida Hydrogen Initiative, Inc. (Tallahassee, Florida) Entertainment to sell its entertainment assets for $42.4 million. Under another agreement, certain assets of HR Broadcasting will be sold to ABRY Communications for cash in a transaction which will result in over $40 million of cash available for distribution to HRBC's creditors and shareholders. QEI expects to receive at least $23 million from the distribution of those proceeds for its interests in HRBC HRBC Human Resources Business Center (US Army) . The transactions are subject to completion of various conditions and the approval of the U.S. Bankruptcy Court. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion