Hungary's NABI sells UK unit Optare to cut debt

Newswire

BUDAPEST, July 29 (Reuters) - Hungarian bus maker NABI has sold its U.K. subsidiary Optare to the firm's management for 11.8 million pounds, NABI said in a statement on Friday. "NABI completed an agreement to sell its UK subsidiary Optare Holdings, Ltd. to the Management Team lead by Robert Coombes, Managing Director and Roger Fossey, Finance Director," NABI said. "The proceeds will be used to reduce the group's debt," NABI said. NABI stuck a deal in May with creditors which it said ...

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