Asian investors to buy Lexmark

Lexmark International on Tuesday announced it has inked a deal to sell the US printer maker to a consortium of Asian investors for some $3.6 billion (Dh13 billion).

If the transaction gets clearance from shareholders and regulators, it will take the publicly traded company private. The deal was expected to close in the second half of this year.

“This is an exciting transaction,” said Lexmark chief executive Paul Rooke.

“With the consortium’s resources, we will be able to continue to invest in and grow the business to more fully penetrate the Asia Pacific market for hardware, software and managed print services.”

The Lexmark board of directors unanimously approved the sale to a group led by Apex Technology, a China-based company that makes and distributes ink jet and laser cartridge components.