ACT Group Plc has now sold its direct marketing subsidiary Brann – picked up with BIS Group from Nynex Corp – to a management buyout group for UKP8.15m cash: it says Brann’s net assets were UKP6.64m at end-December 1992, and that 1992 attributable profits were UKP851,000; it will use the money for final payment of deferred consideration for its purchase of BIS Group in July.
