UK: GUS Sells Catalogues Business For £590m
Retail giant and Argos owner GUS Plc on Tuesday revealed it had agreed to sell its home shopping businesses in the UK, Ireland and Sweden, and its UK logistics and customer care unit for £590 million. The company said in a short statement that the deal with March UK Ltd, a firm controlled by UK businessmen David Barclay and Frederick Barclay, will be used to pay down debt and added it would take a £240m charge.
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