Photo-Me gets help with break-up
January 30, 2007
Photo-Me, the international company responsible for photochemical and digital photobooths around the world, has hired Lazard as financial advisors to help them deal with a potential break-up of the company into three separate sectors.
The appointment of Lazard, which will work alongside JPMorgan Cazenove, the group’s existing financial adviser and joint broker, marks the start of a strategic review that could lead to a sale of one or all of the three businesses, Photo-Me said.
As we noted last month, Photo-Me has been considering splitting up its three sectors - vending, minilab manufacturing and wholesale manufacturing - and selling off one or more of them. In light of changes in the photography industry as well as the approach of biometric passports, Photo-Me has seen rough financial times over the last year or so.
Brian | 3:16 PM | In the News
Comments are now closed for this entry. Thanks.
Trackback Pings
TrackBack URL for this entry:
http://www.photobooth.net/mt/mt-tb.cgi/193
