Tuesday, October 18, 2005

Compass to be sold?

Compass, the contract caterer is in the limelight amid talk that the company could be a private equity takeover target. Despite the cash-generative nature of its operations, Compass has hitherto not been considered a leveraged buyout candidate on account of its pension fund deficit, which currently stands at �450m. A buyer may be sought for Compass\\\'s Select Service Partner (SSP) division, which operates Moto service stations in Britain and the Upper Crust sandwich chain and Cafe Ritazza coffee bars in railways stations.

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