John Menzies, the news agency group, has agreed to acquire a 37 per cent stake in Funsoft GmbH, a leading German distributor of CD-ROM and other multimedia software. The acquisition will take place through John Menzies' home entertainment division. The purchase is subject to the approval of the German cartel office.
The company is paying a maximum consideration of £24.9m. The transaction is being funded from Menzies' own cash. The company has the option to buy a further 14 per cent by the end of 1997.