Flextronics to Purchase Xerox's Global Office Business Operations

Flextronics Corporation, a leading worldwide provider of electronics manufacturing services, has agreed to purchase, on a worldwide basis, certain assets related to Xerox Corporation’s office business segment for approximately US$220 million plus the assumption of certain liabilities. As part of the transaction, Xerox and Flextronics entered into a multi-year manufacturing supply agreement pursuant to which Flextronics will manufacture certain Xerox office products.

With respect to the Canadian portion of the transaction, which closed on November 30, 2001, Flextronics was represented by Heenan Blaikie LLP with a team led by Paul Wickens and Noam Goodman (corporate), Peter Clark (tax), Brian Burkett and Rhonda Shirreff (labour), Subrata Bhattacharjee (competition) and Nick Macos (real estate).

In Canada, Xerox was represented by Fraser Milner Casgrain LLP with a team led by Barbara Conway and Tom Lo (corporate), Grace Pereira (tax), Lisa Goodfellow (labour), Audrey Mak (pensions and benefits), Tracey Patel (competition) and Paul Shantz (real estate). Carrie Schiff, in-house counsel, Flextronics, handled U.S. matters.