Reader's Digest To Net $5.8M In Sale Of French, Nordic Units

Law360, New York (April 1, 2013, 4:51 PM EDT) -- The Reader’s Digest Association Inc.’s bankrupt parent on Friday sought court approval to sell its affiliates in France, Sweden and Finland for a combined $5.8 million in an effort to streamline its international operations.

RDA Holdings Co. said in a court filing that alongside nondebtor affiliate Pegasus Netherlands Services CV it plans to sell its equity interest in its French, Swedish and Finnish units to Spanish marketing and direct-mail company CIL Group SL. RDA’s international operations, which primarily focus on the company’s direct marketing business, have...
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