Melrose to consider 200 mln stg capital return next year
Nov 19 (Reuters) - British investment firm Melrose Industries Plc said it expects early next year to recommend the return of about 200 million pounds ($312.5 million) in capital to shareholders.
Melrose last week completed the sale of its Bridon division, which supplies ropes used in mines, to the Ontario Teachers' Pension Plan for 365 million pounds.
The engineering turnaround specialist, which follows a buy-improve-sell strategy akin to private equity firms, said it had yet to decide the exact amount of capital to be returned. (Reporting by Esha Vaish in Bangalore; Editing by Robin Paxton)