SCOTTS VALLEY, Calif. -- Victor Technologies Inc., which is operating under protection from creditors through bankruptcy proceedings, says it has agreed to sell most of its stock to a Swedish microcomputer firm.
Under the terms of the deal, Datatronic A.B. will pay $28 million in cash and notes for 90 percent of Victor's stock, the California company said Tuesday.
The agreement must be approved by U.S. bankruptcy court.
Officials of the computer firm refused to give any other details of the deal, but said it plans to continue production in Scotts Valley.
The company filed for Chapter 11 bankruptcy protection Feb. 6.