Scitex (SCIX)

[midastouch017]

Scitex May Sell Scitex Vision Stake
Monday March 21, 9:33 am ET
Scitex Negotiating the Possible Sale of 69.5 Percent Stake in Scitex Vision Ltd.


NEW YORK (AP) -- Israeli printing supplies company Scitex Corp. said Monday it is negotiating the possible sale of its 69.5 percent stake in Scitex Vision Ltd., in a deal valuing Scitex Vision at $230 million to $250 million.
Nasdaq-listed shares of Scitex were halted for news dessemination at $6.47.

The proposed transaction is subject to a due diligence process, negotiation and execution of definitive agreements. There is no assurance that any transaction will result with respect to Scitex Vision.

As reported, Scitex has been pursuing various strategic alternatives, including a sale and an IPO, of its holdings.

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