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Carr's Group PLC - agriculture machinery distributor and engineering firm - Says that 99% of its shareholders backed the proposed disposal of its interests in the Billington Agriculture business, an agricultural supplies division of the firm, on Monday at its general meeting. Expects the completion of the transaction before the end of October.
At the end of August, the company agreed to sell off all interests in its Billington Agriculture business to Edwards Billington & Son Ltd for up to £44.5 million on a cash-free, debt-free basis. The sale is part of Carr's strategy to streamline its business, allowing resources and investments to be focused on the Speciality Agriculture and Engineering divisions, due to having further growth prospects.
Current stock price: 107.50 pence
12-month change: down 30%
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