UPDATE1-Cash Technologies subsidiary to sell some assets

Newswire

(Adds details) Aug 31 (Reuters) - Cash Technologies Inc. on Thursday said its subsidiary would sell most of its remanufactured carburetor assets to Champion Parts Inc. for up to $11 million in cash and debt. On closing of the deal, the subsidiary TAP Holdings will shut its Los Angeles factory and terminate any remaining employees, Cash Technologies said. In a statement, Champion Parts said it would pay about $1.5 million in cash and up to $9.5 million in contingent payments to buy the ...

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