Dye & Durham completes sale of TM Group to Aurelius
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $1.44 a week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $5.77 plus GST every four weeks. After 52 weeks, price increases to the regular rate of $19.95 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 10/08/2023 (1165 days ago), so information in it may no longer be current.
TORONTO – Dye & Durham Ltd. says it has completed the sale of its TM Group business to alternative investment firm Aurelius in an agreement worth up to 91 million pounds.
The previously announced sale came after a British competition regulator took issue with the software company’s acquisition of the business in 2021.
The company announced the acquisition of TM Group (UK) Ltd. in July 2021 in a deal worth about 91.5 million pounds.
However, the United Kingdom’s Competition and Markets Authority (CMA) ordered the sale of the acquisition after it found it would “substantially” lessen competition in property search reports in England and Wales.
Dye & Durham previously said it plans to use the net proceeds it receives at closing to reduce debt.
In a previous release announcing the deal, CEO Matthew Proud said Dye & Durham plans to seek new merger and acquisition opportunities in the United Kingdom to continue to grow its business.
This report by The Canadian Press was first published Aug. 10, 2023.
Companies in this story: (TSX:DND)