Bethunes to sell Webb's auction house, plans new investment

Mon, 26 Oct 2015

By Paul McBeth Oct. 27 (BusinessDesk) - Bethunes Investments, formerly known as Mowbray Collectables, will sell its Webb's auction house for $800,000 to Australia's Mossgreen, and plans to kick off a new investment programme first signalled at July's annual meeting. The deal is conditional on the Australian auction house completing due diligence and Bethunes shareholder approval, and is expected to be completed on Jan. 1, the company said in a statement. Bethunes will receive $400,000 upfront, with the balance paid in quarterly instalment...

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