OSR <OSRC> TO MAKE ACQUISITION
OSR Corp said it has agreed
to acquire the properties and assets of Telcom International
Group for 10.5 mln common shares, which would give former
Telcom owners an 84 pct interest in the combined company.
    Telcom is an international film and television distributor.
 The assets being acquired consist mostly of distribution
rights to films valued at over one mln dlrs, the company said.
    OSR said as part of the acquisition agreement is is
required to sell its 80 pct interest in Standard Knickerbocker
Ltd, which makes jeans in Canada.
    OSR said it expects to net about 150,000 dlrs on the sale
of Standard Knickerbocker.
    The company said both transactions are subject to approval
by shareholders at a meeting to be held in April or May, it
said.
 Reuter
