Creative is selling its assets to raise fund. I hope to see the end of these divestments and the start of acquiring companies and assets again.
Creative Technology Ltd (“Creative”) today announced that it has divested its entire interest in an associated company, Wireless Audio IP BV, a fabless audio chip vendor.
The consideration to be received by Creative for this divestment is US$5.3 million in cash, which was arrived at on a willing-buyer, willing-seller basis.
Creative expects to recognize an investment gain of approximately US$4.8 million from this divestment in the current quarter ending 30 June 2010.