Dublin-listed investment firm Prime Active Capital has agreed to sell its subsidiary Bell & Bain to newly registered NewCo for €2.74 million.
NewCo is an investment vehicle established by the Bell & Bain's management's team.
Bell & Bain is made up of the Scottish book and technical journal printing business unit of PAC Digimedia.
The deal is subject to shareholder approval and the company said an EGM will be held on November 16th to approve the transaction.
Prime Active said it believes Bell & Bain operates in an increasingly competitive environment that will require substantial resources to develop new products and services.
“In light of this, the board decided to dispose of Bell & Bain thereby allowing the company to focus on its core business,” it said.