RM completes multiple sales

RM has completed the sale of the business of Dacta and the minority shareholding in the LEGO Education Europe joint venture.

Prior to the joint venture, Dacta distributed LEGO products and a number of other brands including Tolo, which Dacta continued to distribute after the establishment of LEGO Education Europe.

Certain non-core elements of the Dacta business have now been sold to Tolo Toys Learning. The consideration was €0.27m in cash, paid in two stages.

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RM's 49% stake in LEGO Education Europe has been sold to LEGO A/S for a total cash consideration of €4.4M, with half for shares and associated rights and half for debt repayment.

In total, the disposals had generated €4.1M by the end of October.

On a consolidated basis the businesses are expected to be loss making for the fourteen months to 30 November 2011.

The share price rose 4.31% to 60.5p by 14:39.

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