Melrose to sell Bridon to Ontario Teachers for $587 mln: Reuters

British investment firm Melrose Industries Plc said on Saturday it had agreed to sell its Bridon division to the Ontario Teachers' Pension Plan in a 365 million-pound (US$587 million) deal, Reuters reported. Melrose said it expected the sale of Bridon, which supplies ropes used in mines, would be completed before the end of 2014, subject to anti-trust clearances.

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