6th Sep 2019 16:03
(Alliance News) - Naked Wines PLC said on Friday shareholders voted in favour of the sale of its retail and commercial businesses.
In August, the wine retailer said it would sell its Majestic Wine Warehouses Ltd and Les Celliers de Calais SAS unit for GBP95 million to CF Bacchus Holdings Ltd, controlled by Fortress Investment Group LLC. Majestic will use the funds raised to eliminate debt as well as invest in the growth of its remaining business, the online Naked Wines.
The firm then changed its name to Naked Wines from Majestic Wine.
At Friday's general meeting, 99% of shareholders voted in favour of selling the firm's retail and commercial operations.
Shares in Naked Wines were down 0.6% at 255.00 pence in London on Friday.
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