NTS Definitely Sold to Management

It is now official: In a MBO, the retail chain NTS and the wholesaler Viking International, have been sold to their top executives. Although neither side wishes to comment on the price, it is now common knowledge that the price is more likely to be 40 million Euro than 50 million Euro. At the end of the 80s the Continental group bought the chain from Michelin for 140 million pounds Sterling because the Monopolies and Mergers Commission signalled that it would not accept the total acquisition by the French company.

Continental managers are convinced that the details of the sale will ensure further co-operation with the new owners. Continental is convinced that it will consolidate, or even improve its current position in Great Britain through co-operation with the now independent retailer NTS, under the umbrella of the now named Axle Group..