Morgan Stanley Sells Zenith Parent Company Stake

Source: thewillnigeria.com

Morgan Stanley (MS.
N) has sold its majority stake in Accelerate Acquisitions, the parent company of British car provider Zenith, to UK private equity fund HgCapital for 3.

8 times its original investment.
Morgan Stanley said on Thursday that the sale by its private equity arm came four years after its initial investment in the car fleet manager.

REUTERS