Disposal
August 31 2005 - 10:00AM
UK Regulatory
RNS Number:6582Q
Dart Group PLC
31 August 2005
31 August 2005
Dart Group PLC ("the Group")
Sale of Benair
Dart Group PLC, the aviation services and distribution group, announces today
that it has sold 100% of its interest in Benair Freight International Limited
and Benair Freight Pte ("Benair") to Gulf Agency Company ("GAC"), a global
shipping, logistics and marine services group employing over 6,000 people in 200
offices worldwide.
The consideration, which is subject to a net asset adjustment, amounts to #5.1m
based on the book value of the assets sold, estimated to be #1.2m. The proceeds
will be used to pay down existing bank debt.
Commenting, Philip Meeson, Chairman and Chief Executive, said "The sale of
Benair tidies up the Group structure and will free up management time and
resources to concentrate on growing the Group's two core businesses of
temperature-controlled distribution and aviation services. I believe that Benair
has a bright future under its new owners, GAC".
Contact:
Philip Meeson 01202 597680
Dart Group PLC 07785 258666
Mike Forder 01202 597680
Dart Group PLC 07721 865850
This information is provided by RNS
The company news service from the London Stock Exchange
END
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