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INDIANAPOLIS-Brightpoint Inc. announced the completion of the sale of interests in Brightpoint Middle East FZE, its subsidiary Fono Distribution Services L.L.C. and Brightpoint Jordan Ltd. to Persequor Ltd., a company owned by Jac Currie, former managing director of Brightpoint’s operations in the Middle East.
In the sale, Brightpoint received two subordinated promissory notes from Persequor with face values totaling $4.2 million that mature in 2004 and 2006. Meanwhile, the company said it is expecting a loss ranging from $1.75 million to $2.25 million relating to the sale.
