Kaboose, a family-focused online media company, has completed the sale of its UK subsidiary, Kaboose Acquisition (UK), to Romeo Bidco, an affiliate of Barclays Private Equity, for GBP54
Kaboose, a family-focused online media company, has completed the sale of its UK subsidiary, Kaboose Acquisition (UK), to Romeo Bidco, an affiliate of Barclays Private Equity, for GBP54m in cash less third-party debt outstanding at closing which was approximately GBP10m.
It has also completed the sale of substantially all of its North American assets to Disney Online for approximately USD23m in cash, subject to a working capital adjustment.
Following the completion of a court-approved creditor claims process and liquidation, pursuant to which Kaboose expects to distribute approximately USD0.65 in aggregate per common share to shareholders, Kaboose will be dissolved.
The first distribution is expected to occur in the third quarter of 2009.
