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Renaissance has completed the sale of Yoobee Retail operations to Logical Systems Limited, for the previously reported figure of $1.

In accord with the sale and purchase agreement executed on March 5 and announced to the market on March 6, the struggling company has officially passed on its Yoobee Apple computer retailing operation following months of strife.

As reported in full by The Channel on March 5, terms of the deal will see Logical Systems Limited now acquire the assets, fixtures and fittings of the retail business for just $1.

After executing the sale and purchase agreement on March 4, a handover was expected to be effective on March 6 - which has now been confirmed by the NZX.

For full details of the transaction, please click here