For more information visit: www.cinram.com
Unedited press release follows:
Sale of Cinram to Najafi Companies Receives U.S. Court Approval
TORONTO, July 25, 2012 – Cinram International Income Fund (TSX: CRW.UN) (together with its subsidiaries, “Cinram” or the “Fund”) announced today that the proposed sale of substantially all of Cinram’s assets and businesses in the United States, Canada, the United Kingdom, France and Germany (the “Sale Transaction”) to newly formed subsidiaries of Najafi Companies has received U.S. court approval.
Under the Sale Transaction announced on June 25, 2012, Najafi will purchase substantially all of the assets used in Cinram’s core businesses for the manufacture of pre-recorded multimedia products and the provision of related logistics services, digital media solutions and outsourced vendor management inventory services in North America and substantially all of the European business.
The Sale Transaction is expected to close in August 2012, subject to satisfaction of closing conditions, although the transfer of portions of the business may occur later in the year.
Cinram International Inc., an indirect, wholly-owned subsidiary of the Fund, is one of the world’s largest providers of pre-recorded multimedia products and related distribution and logistics services. With facilities in North America and Europe, Cinram International Inc. manufactures and distributes pre-recorded DVDs, Blu-ray discs, audio CDs, and CD-ROMs for motion picture studios, music labels, publishers and computer software companies around the world. The Fund’s units are listed on the Toronto Stock Exchange under the symbol CRW.UN. For more information, visit our website at www.cinram.com.