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Borders US closes Australasia deal
11.06.08 Anna Richardson
Borders Group in the US has closed the previously announced sale of its Australia, New Zealand and Singapore businesses to A & R Whitcoulls, a leading Australasian retailer of books and related products owned by private equity firm Pacific Equity Partners.
Through the deal, which was first announced on 5th June, Borders has received approximately $90m. Additional deferred payments of up to $14m will be paid to Borders Group around 31st March 2009 if certain performance targets are achieved.
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