Mears Group PLC - housing sector services provider - completes exit from domiciliary care with the disposal of its Scotland Domiciliary Care business. Sale to Cera Care Operations Holdings Ltd, which also acquired Mears's England & Wales Domiciliary Care business, is for a cash consideration of GBP2.0 million payable on completion, and a further deferred consideration of GBP500,000 twelve months from completion. Proceeds from sale to reduce debt, says Mears. "The group previously completed the disposal of its England and Wales Domiciliary Care business in January 2020, and the disposal of SDC completes the exit of the group's Domiciliary Care services," Mears says.
Current stock price: 110 pence
Year-to-date change: down 63%
By Lucy Heming;Â lucyheming@alliancenews.com
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Mears (MER)