Feb 7 Connect Group Plc, a newspaper
distributor and parcel delivery company, said it would sell its
education and care business to RM Plc for about 56.5
million pounds ($70.3 million) in cash.
Connect Group, which also delivers books and stationery to
schools, said RM would assume responsibility for the defined
benefit pension schemes within the business, which had a balance
sheet deficit of 7.9 million pounds at Aug. 31, 2016.
The group will continue to focus on growth opportunities
within News & Media and Parcel Freight businesses, it said in a
($1 = 0.8041 pounds)
(Reporting by Sanjeeban Sarkar in Bengaluru; Editing by