dhsimmonds Posted January 4, 2007 Share #1 Posted January 4, 2007 Advertisement (gone after registration) In this week's issue of the British Journal of Photography, it is reported that the deal for Leica Camera to buy 51% of Jenoptic's share of Sinar AG is called off by Jenoptic. The report states that Leica have not complied with certain conditions of the purchase contract. Jenoptic say they have have re-affirmed their committment to Sinar. At the time of Photokina 2006 this deal was hot news as it seemed to herald a new and more successful era for Leica. So what does this new announcement tell us then? Link to post Share on other sites More sharing options...
Advertisement Posted January 4, 2007 Posted January 4, 2007 Hi dhsimmonds, Take a look here Sinar deal with Leica reported to be off. I'm sure you'll find what you were looking for!
TimF Posted January 4, 2007 Share #2 Posted January 4, 2007 This is pretty old news, and was known before Xmas. As for what it tells us, your guess is as good as mine. The ways of corporate dealings are dark and mysterious. Link to post Share on other sites More sharing options...
marknorton Posted January 4, 2007 Share #3 Posted January 4, 2007 Well, stirring things a bit (which will raise Tim's ire a tad), I can just imagine a dinner hosted by Leica to celebrate the launch of the M8 before Photokina. Jenoptik are invited guests for their contribution to the product. The bosses of the two companies get talking. "You know, we would really like to get rid of that 51% of Sinar we own, non-strategic, blah, blah, blah". As the night draws on and the level in the Schnapps bottle gets lower and lower, this seems a better and better idea and by the time the bottle is empty, it's a done deal. "Quick, make the announcement, get the signs done for Photokina, that will put the s...s up Hasselblad! Serve them right for the Imacon SNAFU! Let's do it!" 3 months later, in the cold (magenta) light of morning, it doesn't seem to be such a good idea, after all... (just a figment of my imagination, you understand) Link to post Share on other sites More sharing options...
TimF Posted January 4, 2007 Share #4 Posted January 4, 2007 Evening Mark, I found that quite funny actually (will that raise your ire a bit! ). Given this bit - "Leica have not complied with certain conditions" - I'd presume (without knowing owt about it of course) that Leica have either (a) failed to hand over an agreed sum by a certain date, or ( failed to give certain assurances about various matters at Sinar which Jenoptik wanted before concluding the deal. Link to post Share on other sites More sharing options...
marknorton Posted January 4, 2007 Share #5 Posted January 4, 2007 Yes, you're probably right... Link to post Share on other sites More sharing options...
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