Unidare to sell British division

ENGINEERING company Unidare is to sell its British- based business, Eland Cables, to a management team for €5.9 million, subject to shareholder approval.

In late November the group announced it was considering the sale of all of its assets for the benefit of its shareholders.

At the time it announced it had already done a deal to sell its US distribution subsidiary ORS Nasco to a US private investment firm for $81 million (€67m).