31st Aug 2005 15:00
Dart Group PLC31 August 2005 31 August 2005 Dart Group PLC ("the Group") Sale of Benair Dart Group PLC, the aviation services and distribution group, announces todaythat it has sold 100% of its interest in Benair Freight International Limitedand Benair Freight Pte ("Benair") to Gulf Agency Company ("GAC"), a globalshipping, logistics and marine services group employing over 6,000 people in 200offices worldwide. The consideration, which is subject to a net asset adjustment, amounts to £5.1mbased on the book value of the assets sold, estimated to be £1.2m. The proceedswill be used to pay down existing bank debt. Commenting, Philip Meeson, Chairman and Chief Executive, said "The sale ofBenair tidies up the Group structure and will free up management time andresources to concentrate on growing the Group's two core businesses oftemperature-controlled distribution and aviation services. I believe that Benairhas a bright future under its new owners, GAC". Contact: Philip Meeson 01202 597680Dart Group PLC 07785 258666 Mike Forder 01202 597680Dart Group PLC 07721 865850 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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