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Listed training provider Training Solutions has reached a conditional agreement to sell its business for about $525,000, and intends to become an investment company.
The group is selling its Australian and New Zealand training businesses Action People, Champagne Consulting, and Performance Edge Systems, to Sugar International.
The sale is conditional on shareholder approval at a meeting on January 31. It intends to invest its cash - about $800,000 before sale costs and payment of trade creditors - in small companies on the Australian Stock Exchange.
"The board believes [this] will provide better returns to shareholders than it has achieved in the training industry," the firm said.
Training Solutions closed at 2.3c, up 0.2c, having traded between 2c and 96c in the past year.
- NZPA
