3 Jul 2012

Conditional sale agreement reached by Blue Star Group

12:54 pm on 3 July 2012

Blue Star Group has reached a conditional agreement to sell its Rapid Labels unit to Tiri Group.

The company says the sale will help Blue Star to reduce bank debt and help strengthen its financial position.

The deal comes as Blue Star considers a takeover offer, which it says reflects the difficult trading and economic conditions affecting the print industry.

Last October bondholders approved a restructure of Bluestar's debt.