Amadeusz Juskowiak

Osr osrc to make acquisition

OSR Corp said it has agreed to acquire the properties and assets of Telcom International Group for 105 mln common shares which would give former Telcom owners an 84 pct interest in the combined company

Telcom is an international film and television distributor

The assets being acquired consist mostly of distribution rights to films valued at over one mln dlrs the company said

OSR said as part of the acquisition agreement is is required to sell its 80 pct interest in Standard Knickerbocker Ltd which makes jeans in Canada

OSR said it expects to net about 150000 dlrs on the sale of Standard Knickerbocker

The company said both transactions are subject to approval by shareholders at a meeting to be held in April or May it said

Reuter