Assura sells £6m stake in Stobart

WARRINGTON healthcare provider Assura Group has sold its stake in haulage firm Stobart Group.

The company sold its 6.38 million ordinary shares in Stobart for an aggregate value of £6.38m to institutional investors.

The shares had been valued on Assura’s books at £5.74m on September 30, 2008.

In a statement to the stock market Assura said: “The disposal is consistent with the company’s revised strategy to selectively dispose of non-core assets. The proceeds will be used to reduce the company’s net borrowings.”