Barco has blamed the recent spate of profit warnings among graphic arts suppliers for scuppering the MBO plans at its Graphics division.
"The timing is not the best right now, so Barco will finance Barco Graphics' product innovations from its own means, and we will bring Graphics to the stock exchange later, probably in two years or so," said Jean-Pierre Tanghe, Barco's vice president of corporate communications and investor relations.
The MBO plan was announced at the end of last month (PrintWeek, 6 October), and was to be backed by venture capitalists CVC Partners.
It is understood that CVC lowered its offer following the due diligence process. Tanghe said that both sides had agreed not to
proceed.
Xerox, EFI and Xeikon have all recently issued profit warnings.
Story by Jo Francis
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