CVSL Says It Has Liquidated Its Remaining Stake In Blyth
DALLAS, Jan. 28, 2014 /PRNewswire/ -- John Rochon Jr., the chairman of CVSL Inc.'s investment committee [OTCQB: CVSL], said today that CVSL has sold all of its remaining shares of Blyth, Inc. and no longer holds any equity position in Blyth.
Last fall, CVSL indicated publicly that it had acquired a stake in Blyth. On October 29, 2013, CVSL announced that it had proposed a business combination with Blyth, under which CVSL would acquire all public common shares of Blyth for a per share consideration of $16.75.
Following the rejection of CVSL's offer by Blyth management, CVSL has liquidated its Blyth position in full. Mr. Rochon noted that CVSL has essentially broken even financially on its Blyth investment.
CVSL is a growing group of micro-enterprise companies that connect social media networks into an ever-expanding virtual "community" of social commerce. CVSL companies currently include The Longaberger Company, a 40-year old maker of hand-crafted baskets and other home décor items; Your Inspiration At Home, an award-winning maker of hand-crafted spices and other gourmet food items from around the world; Tomboy Tools, a direct seller of tools designed for women as well as home security systems; and Agel Enterprises, a global seller of nutritional products in gel form as well as a skin care line sold under the Ageless™ brand, operating in 40 countries; Paperly, which offers a line of custom stationery and other personalized products; and My Secret Kitchen, a U.K.-based seller of gourmet food products.
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SOURCE CVSL Inc.