TEG sale talks continue

TEG Group has said that it is continuing to pursue sale talks with a number of potential suitors, but added that there is “no certainty” that it will receive an acceptable offer for the whoe – or even part – of the company.

The Chorley-based business, which makes composting and other renewable energy equipment, first announced that it was in sale talks back in January.   

The firm said it received a number of indicative proposals by an initial deadline of March 14, which have been followed up by site visits. Bidders will shortly be allowed access to a data room and are expected to then submit more detailed bids to the board.

TEG said that it expects to make a further announcement on talks “in the coming weeks”.

It is being advised on the sale by KPMG Corporate Finance and Brewin Dolphin.