Mon, 26 Mar 2012 | DIVISION SALE
The Co-operative Group is eager to sell Sunwin Services, its cash handling division, to raise the funds to facilitate its purchase of a portfolio of Lloyds’ bank branches.
Advisers from Buckingham Corporate Finance have been brought in to secure a new owner for Sunwin Services, which provides secure transport of money for shops and cash dispensers, IT services and fire security.
While a price for the business - which has a 1,500-strong workforce – is uncertain, industry experts have placed its value in the region of £30m to £40m. It is expected that Sunwin will attract other security and facilities management firms and private equity buyers.
Lloyds is still in negotiations to sell its 632 bank branches to the Co-op, having fallen behind schedule. The outline of a deal was due to be ready by the end of this month. The Co-op emerged as Lloyd’s preferred buyer for the branches in December.
Lloyds is disposing of a large chunk of its bank branches to satisfy the conditions by the European competition regulator on the £20 billion in state aid it received at the onset of the credit crunch.
After its purchase of Britannia in 2009 the Co-op operates 343 branches and has 6.5 million customers, who hold current accounts, credit cards and mortgages.
A well-established, profitable, freehold, all weather tourist attraction situated on a stunning harbourside location. The main focus of the business is a purpose- built public aquarium which is supported by a vibrant Café with Ice Cream sales, Themed...
FREEHOLD
The business occupies a central position in the much sought after town of Halifax, West Yorkshire, with the hotel located above the beautiful restaurant & bar.
The business has a renowned reputation in Leeds and further afield, and therefore attracts loyal and local customers from Leeds and surrounding conurbations, as well as those from further afield.
LEASEHOLD
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