Humberts bought out of administration by the Mercantile Group
12/06/2008
Estate agency chain, Humberts which is over 150 years old, went into administration in early June. The estate agents has already been bought out by a business restructuring group that jointly owns Chesterton.Humberts was sold to the Mercantile Group for £3.16m, including the cancellation of outstanding payments. The sale was managed by administrator Smith & Williamson.The chairman of Mercantile, Salah Mussa, purchased Chesterton with Vincent Tchenguiz in 2005 for £4m. Tchenguiz already owns 23% of Humberts through his Consensus Group of businesses
