Marconi Corporation plc, has agreed to sell its Woods Air Movement company for £53M ($74.2M) to Global Air Movements Holdings Limited. Marconi Corporation plc is a subsidiary company of Marconi plc, a global communications and IT company. Global Air Movement Holdings Limited is a company formed by Compass Capital Partners, a private equity firm. Compass will own 58% of Global with Marconi retaining a 42% interest. The proposed sale upon regulatory approval is expected to be complete by the end of this month.
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