| CATEGORY: SMALL CAPS NEWS SECTOR: AUTOMOTIVE AND PARTS |
Wagon sells French HQ |
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Fri 31 Oct 2008
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LONDON (SHARECAST) - Car components firm Wagon has agreed to sell its former operational HQ office building and engineering centre in Poissy, France for €4.3m in cash.
The company said the property, being bought by France-based pipeline network operator, Trapil, is surplus to requirements. Proceeds will go towards working capital.
It said constructive discussions with its lenders and its principal shareholder, the WLR Funds, are ongoing.
Wagon’s shares were suspended from trading earlier this month after it revealed talks are underway concerning its financial position.
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