Me Group International (MEGP)

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Share Price:
118.80p
Market Cap:
£445.08m
Change Today:
0.40p
Sector:
Leisure Products

ME Group buys Fujifilm Japan photobooth business for £5.5m

By Frank Prenesti

Date: Monday 03 Jul 2023

LONDON (ShareCast) - (Sharecast News) - Vending machine company ME Group said it was buying Fujifilm's automated-photobooth business in Japan for up to £5.5m.
Formerly Photo-Me International, the company on Monday said the deal amount could reduce subject to an adjustment mechanism and expected to fund the transaction via a new local loan facility on "commercially advantageous terms" or existing cash resources if that was not secured.

Chief executive Serge Crasnianski said the purchase would be a "significant" expansion of its current installed estate of approximately 10,500 photobooths in the region.

"Demand for Photo ID in Japan remains robust, driven by the Japanese government's social security and taxation photo ID card scheme," he added.

Reporting by Frank Prenesti for Sharecast.com

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

MEGP Market Data

Currency UK Pounds
Price 118.80p
Change Today 0.40p
52 Week High 121.80p
52 Week Low 117.00p
Volume 703,970
Shares Issued 374.64m
Market Cap £445.08m

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