Update on disposal of major investment (5572A)

TIDMDBAY

RNS Number : 5572A

Douglasbay Capital PLC

02 February 2011

DouglasBay Capital plc (the "Company")

Update on disposal of major investment

On 29 November 2010 DouglasBay Capital plc ("DBay") announced the disposal of its largest investment, the logistics business TDG to Group Norbert Dentressangle. The sale is conditional upon competition clearance by the European Commission. DBay announced that approval and completion of the transaction was expected between mid January and mid February 2011. DBay confirms that the European Commission has requested further information from the parties to assist its review of the transaction. Completion of the acquisition of TDG's holding company Laxey Logistics Limited is likely to take place in mid-March. No material change to the overall consideration payable to DBay will arise as a result of this delay in completion.

For more information, please contact:

DouglasBay Capital plc 01624 690 900 Alex Paiusco, Chief Executive Peel Hunt Limited, Nominated Adviser and Broker 020 7418 8893 Guy Wiehahn

This information is provided by RNS

The company news service from the London Stock Exchange

END

DISBDGDDBSGBGBD

Douglasbay (LSE:DBAY)
Historical Stock Chart
From Dec 2024 to Jan 2025