By John Oates, 16 December 1999 16:13
NEWS Struggling distributor, CHS, is getting rid of its European operations by selling them to a group of its managers. CHS will get a 10 per cent stake in the new company, which is estimated to be worth $300m. CHS Germany and Austria are excluded because they are in a creditor's voluntary agreement. The US arm of the distributor is currently being investigated on money laundering charges. It also announced the sale of its Latin American operations to DistributionTech.com for $23.5m and a 49 per cent stake in the company.
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