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Avingtrans sells Peter Brotherhood for £35m to Howden
StockMarketWire.com
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Critical components maker and services provider Avingtrans said it had completed the sale of Peter Brotherhood to Howden for £35.0 million.
The sale comes as the company decided against undertaking a multi-year programme of investment that was needed to boost the performance of Peter Brotherhood.
After adjusting for debt and working capital, the company would receive net proceeds of approximately £30.6 million from the sale.
The company said it would consider how to use the proceeds from the sale following completion of the deal.
At 8:01am: (LON:AVG) Avingtrans PLC share price was 0p at 281p
Story provided by StockMarketWire.com
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