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Once the sale is finalized Scitex will distribute a significant amount of the proceeds to its shareholders, company officials say. Scitex will use the balance of the funds to satisfy tax and other obligations in the U.S. and to invest mainly in Scitex's remaining business activities.
"We believe this transaction creates significant value for Scitex's shareholders," says Nachum Shamir, president and CEO of Scitex Corp., "in the spirit of our public statements since the appointment of the new leadership at Scitex, and the realignment of our board to reflect the new ownership of IDB Group."
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