22nd Aug 2018 12:43
LONDON (Alliance News) - Logistics firm John Menzies PLC said Wednesday that its shareholders voted in favour of a resolution to dispose of the company's print media division Menzies Distribution Ltd.
At a general meeting held earlier on Wednesday, Menzies shareholders agreed to the sale of the unit to investment funds managed by Endless LLP for GBP74.5 million in cash, with a 97% majority.
The sale, which was completed at the end of July but required shareholder's approval, is in line with the company's aim to become a purely aviation business.
Menzies shares were trading 0.3% lower at 592.00 pence each.
Related Shares:
MNZS.L