Lego buys out partner in schools unit
Thursday 05 January 2012
The toy maker Lego has taken full control of its education division after buying the remaining 49 per cent stake for €4.4m (£3.7m) from the UK-listed education supplier RM.
Lego Education Europe distributes specialist branded toys and educational tools for use in schools. Lego, based in Denmark, is paying €2.2m in cash and a further €2.2m in debt repayment.
RM, which is selling non-core assets, is also selling parts of its separate Dacta toy business to Tolo Toys Learning for €270,000.
Lego Education Europe was set up in 2010, after previously being part of Dacta.
RM indicated that the businesses it is selling "are expected to be loss-making for the 14 months to November 30, 2011".
Shares in RM, which have fallen in value by two-thirds over the past year, rose 12.5 per cent to 65.25p.
Privately-owned Lego has been passionate about supporting education efforts as it claims to be a universal toy which crosses language barriers, helps children understand construction and logic, and encourages imagination and collaborative play.
Lego was voted "Britain's Greatest Toy" after a poll by Channel 4 at Christmas 2010.
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
iJobs Money & Business
£20000 - £25000 per annum + OTE £40,000 + Car + Pension: SThree: SThree are a ...
£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...
£20000 - £25000 per annum + OTE £35000: SThree: SThree are a global FTSE 250 b...
£20000 - £25000 per annum + OTE £35K - £45K: SThree: SThree Group have been we...