Renaissance settles legal action against Exeed over sale

Mon, 17 Sep 2012

By Hannah Lynch Sept. 17 (BusinessDesk) - Renaissance Corp, which used to have a monopoly on New Zealand sales of Apple products, has settled legal action against Exeed over unresolved details of the sale of its IT distribution division. In July, Renaissance shareholders voted to sell the IT distribution business to Exeed, halving the size of its balance sheet. Exeed took over the supply of Apple, Fuji, Cygnet, Belkin and Ozaki and acquired all the company's stock, valued at about $2.5 million, goodwill of $2.3 million and $570,000 for fixed...

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