ORLANDO, Fla., Sept. 21, 2011 /PRNewswire/ -- Diversified Global Holdings Group Inc. (OCTQB: DGHG), a rapidly growing international holding company recently announced that pursuant to its commitment to focus on its best growth opportunities in the current global environment, it had completed negotiations for the sale of Kontakt LLC, one of its Russian electronic component resale subsidiaries, for 1,100,000 shares of its common stock (approximately $1.5 million in current market value) to be retransferred to the Company by the former owner of the subsidiary, Nikolay Uraev, a director of the Company.
In the agreement, Mr. Uraev has also agreed to resign from the Company's Board of Directors and to contribute to the capital of the Company, in addition to the 1,100,000 shares retransferred in connection with Kontact LLC, a significant portion of the shares of common stock he received as a founder in the acquisition of Diversified Global Holdings, Inc., during November 2009. The successful sale will have a positive impact on DGHG's statement of operations.
"DGHG intends to sell the remaining subsidiary and ultimately close this division, as we are looking to maintain the focus of DGHG on our better performing subsidiaries and future growth opportunities," said Richard Lloyd, CEO of Diversified Global Holdings Group. "We will continue with our acquisition strategy and believe that divesting of this division will have a positive effect on our growth and profitability in the years to come."
About Diversified Global Holdings Group Inc.
Diversified Global Holdings Group (OTCQB: DGHG) is a rapidly growing holdings company with strong subsidiaries worldwide. DGHG has proven M&A expertise and intends to continue its expansion in emerging markets by leveraging its operating divisions into additional major market sectors. For more information, visit DiversifiedGlobalHoldings.com (http://www.dghold.com).
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
SOURCE Diversified Global Holdings Group Inc.