Renaissance takes legal action against Exeed over sale of IT distribution business

Tue, 28 Aug 2012

By Hannah Lynch Aug 29 (BusinessDesk) - Renaissance Corp, which used to have a monopoly on New Zealand sales of Apple products, will take legal action against Exeed over unresolved details of the sale of its IT distribution division. In July, Renaissance shareholders voted to sell its IT distribution division 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 ass...

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