Countrywide Plc announces sale of Lambert Smith Hampton commercial business

  • Nov 29, 2019 GMT
  • Team Kalkine
  • The business will be sold for £38 million in cash
  • The transaction enables the group to focus on its core business of residential services
  • The consideration represents a multiple of 6X LMH’s adjusted EBITDA
  • The transaction will also materially reduce the company’s net debt
  • On 29 November 2019, CWD shares were trading at GBX 5.40 at GMT 09:14 AM, up 0.74 points or 15.88% from the previous day’s closing price level.

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