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Stock Market & Financial Investment News

News Breaks
December 18, 2012
17:03 EDTBTHBlyth and ViSalus founders execute new agreement
Blyth announced that it and the other members of ViSalus have reached an agreement whereby Blyth increased its ownership in ViSalus to more than 80% for a payment of $57.4M to the other members of ViSalus. In addition, the other members of ViSalus have agreed to exchange their membership interests for capital stock of ViSalus which will be redeemable in December 2017 for a total redemption price of $147.5M. ViSalus will also redeem in January 2013 all of the outstanding interests under its equity incentive plan for $25.3M, which will be funded by Blyth. In addition, the new agreement should improve Blyth's long-term liquidity by providing for a redemption of the ViSalus stock it does not own in December 2017. All of the members of ViSalus agreed to sell their interests in ViSalus ratably, allowing Blyth to achieve an ownership position in excess of 80%.
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