12th Feb 2014 12:19
LONDON (Alliance News) - Diversified engineering company 600 Group PLC said Wednesday that it had terminated discussions over potentially selling selected assets to Qingdao D&D Investment Group Co. Ltd.
600 said that D&D had failed to "make progress on certain matters by agreed and continually extended deadlines" and 600 had therefor decided that the transaction was unlikely to be completed.
The company affirmed that its trading in the second half of the current financial year is in line with expectations, and said that with the uncertainty of this possible sale out of the way, it is in a position to develop and communicate a future strategy in due course.
Shares in 600 were trading down 6.9% at 17.00 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @hanassallnews
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