Tuesday, October 18, 2005

Compass hired Citigroup to advise on sale of Harry Ramsden travel concessions

Compass has hired Citigroup to advise on the sale of its Harry Ramsden\\\'s travel concessions. A sale price of �1bn is anticipated, the report said. Departing chief executive Mike Bailey, said the UK-listed restaurant and catering group would dispose of the Select Service Partners (SSP) business. SSP\\\'s revenues (including fuel) are expected to be approximately �1.9bn, EBITDA of approximately �160m, and EBIT of approximately �115m.

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