Xavier Computer Group Plc has conditional agreement to acquire CSL International Ltd for 3.2m British pounds in cash, loan notes, and shares, and is making an open offer of convertible loan notes to raise 1.176m pounds before expenses, to be used to finance the cash element of the acquisition. Dealings in Xavier on the Alternative Investment Market are suspended pending shareholders’ approval of the proposals and completion of the acquisition agreement. CSL International operates as a holding company with three trading subsidiaries, all based off-shore, in Jersey, where it was founded in 1975, in Guernsey and the Isle of Man. The directors believe it is one of the larger computer service firms on these islands.
