City Link sold for £1


In Better Capital news, loss-making parcel delivery firm
City Link has been sold by Rentokil Initial plc to the private equity house for
£1. The current City Link management team, led by David Smith, will continue to
run the business. Better Capital will invest £40 million in order to help City
Link continue its turnaround, which saw it cut operating losses from £31
million in 2011 to £26 million in 2012.

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