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January 4, 1988

MBS GROUP WINS ON SALE OF SUBSIDIARY TO RUTLAND TRUST

By CBR Staff Writer

MBS Group Plc has received a nice little windfall with the sale of its original core business MBS Rentals Ltd to financial services group Rutland Trust Plc: Rutland’s Technology Group Ltd subsidiary is paying a total of UKP840,000 for the operation on which MBS has already taken a UKP3m extraordinary charge after announcing in April (CI No 663) that it was closing the business: the price covers the net book assets of the operation and will be used to reduce borrowings.

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