DX Group has sold five of its properties and taken a loan from its biggest shareholder to pay back a bank loan. The group has committed to a sale and leaseback of its sites in Thatcham; Basildon; Rotherham; Northampton and Nottingham. The deal with Chancerygate (Livingston) is due to complete on 29 September. The sale of the land is to repay a term loan to HSBC, and DX Group had considered selling its Willenhall freight hub in order meet the […]
The deal that would have see DX Group acquire Menzies Distribution has been called off, and a new board of directors is set to be installed at DX under the guidance of its largest shareholder – Gatemore Capital Management.
The DX Group shareholder leading the charge against the company’s proposed acquisition of John Menzies’ distribution arm has increased its holding in the company by 10%.
The DX Group and John Menzies Distribution merger could be sealed this summer after both boards approved a revised offer that satisfies objections from a major shareholder.