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Dawson buys JG Palmer's news wholesale assets for 5.0 mln stg

Mon, 19th Jun 2006 09:34

LONDON (AFX) - Dawson Holdings PLC, the newspaper and magazine distributio
n, logistics and marketing services group, said it has acquired the news wholesale assets and business of JG Palmer LLP for 5.0 mln stg in cash, with around 1.5 mln stg being reinvested by the seller in 1.2 mln new shares in Dawson.

Palmer is an independent newspaper and magazine wholesaler operating in Kent. Palmer also owns other business activities which are not part of the

acquisition. In the 52 weeks ended March 27 2005, Palmer reported a turnover of 43.3 mln stg of which 38.3 mln related to news wholesale.

Dawson said it expects the acquisition to enhance earnings in the first full financial year following acquisition.


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