Mergers/Acquisitions News

Qvest Media in “friendly negotiations” for possible sale of 75% shares to German investor

Systems integrator Qvest Media “is in friendly negotiations with the German company, RAG-Stiftung Beteiligungsgesellschaft mbH, in regards to an investment amounting to 75% of its shares”.

handshake better bigSystems integrator Qvest Media “is in friendly negotiations with the German company, RAG-Stiftung Beteiligungsgesellschaft mbH, in regards to an investment amounting to 75% of its shares”, a company spokesperson has confirmed to BroadcastPro Middle East.

“A transaction, however, has not been finalised,” he added.

A month ago, there were strong rumours about the possible sale of Qvest Media to a German investor. Early this week, there were reports on some German web sites that confirmed the sale of 75% of the company’s shares. Qvest, however, has denied that a sale has been formalised thus far.

The German systems integrator presently has offices in Cologne, Berlin, Munich, Dubai and Singapore. It has stated that “there is no change in Qvest Media’s management structure” for the moment.

Qvest Media declined to comment further until the deal is finalised.