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Blue Star Print Group, once part of Graeme Hart's investment portfolio, is another asset headed toward private equity ownership.
In a statement to the stock exchange, Blue Star said its shareholders were in advanced negotiations on a sale of the business to CHAMP Private Equity.
It was expected that the discussions would result in a formal sale and purchase agreement between the parties shortly, the company said.
Blue Star said it expected existing senior management to continue as both employees and shareholders.
