Reuters: Technology News: Eastman Kodak to sell document imaging business assets

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Eastman Kodak to sell document imaging business assets Apr 15th 2013, 14:28 Tweet Share this Email Print Related News GMX Resources files for bankruptcy Mon, Apr 1 2013 Related Topics Investing and Taxes Simplified » Tech » A general view of the now mostly unused Kodak factory in Rochester, New York, January 1, 2013. Credit: Reuters/Carlo Allegri Mon Apr 15, 2013 10:28am EDT (Reuters) - Bankrupt photography pioneer Eastman Kodak Co said it has agreed to sell some of its document imaging business' assets for $210 million in cash under a stalking horse bid by Brother Industries Ltd. Brother Industries will also be assuming liability for deferred service revenue from its document imaging business, totaling about $67 million as of Dec 31, 2012. "Stalking horse bids" set baseline offers for assets and are subject to auctions. Kodak will seek U.S. Bankruptcy Court approval for the deal at a hearing scheduled in late April. The U.S. company said it is continuing the sale process for its personalized imaging business as it remains on track to emerge from bankruptcy in the middle of this year. It needs to raise at least $600 million from the sale of its noncommercial imaging assets, according to its amended financing agreement. (Reporting By Aurindom Mukherjee in Bangalore; Editing by Sreejiraj Eluvangal) Investing and Taxes Simplified Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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