Summary
Struggling MFI Furniture Group yesterday agreed to sell its loss- making retail operations to private equity group Merchant Equity Partners (MEP) for a nominal pounds 1 - sending its shares up over eight per cent.
MFI, which will change its name to Galiform and focus on its Howden Joinery business, said it would pay MEP, which is run by veteran investment banker Henry Jackson, up to pounds 74 million to take the retail unit off its hands.See the full content of this document
Extract
Mfi Retail Operation Sold Off for Just Pounds 1
MFI said the sum included pounds 8.7 million on completion, pounds 53.1 million next September and a further pounds 12 million in April 2008, subject to ME...
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