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26/02/2002
CPL assume control of Marlborough Group
All-Ireland recruitment firm CPL, which has a base in Belfast, has announced that it has agreed to take on the temporary contract business of the Marlborough Group, and its subsidiary Ann O'Brien Secretarial.
While a price was not disclosed it is understood it will be a fraction of the £5 million in cash Marlborough paid to buy the Ann O'Brien secretarial business three years ago.
As a result of the deal to 20 Marlborough staff are expected to keep their jobs, however the Marlborough brand name will be killed off.
In a separate development, market sources indicated that the Irish Stock Exchange officials are investigating a sharp fall in Marlborough's share price the day before it announced the appointment of a receiver.
Set up in 1989, CPL currently has offices in Belfast, Dublin, Limerick, Cork and Galway.
CPL floated 20 per cent of the company in June of last year on the AIM and DCM markets.
(MB)
While a price was not disclosed it is understood it will be a fraction of the £5 million in cash Marlborough paid to buy the Ann O'Brien secretarial business three years ago.
As a result of the deal to 20 Marlborough staff are expected to keep their jobs, however the Marlborough brand name will be killed off.
In a separate development, market sources indicated that the Irish Stock Exchange officials are investigating a sharp fall in Marlborough's share price the day before it announced the appointment of a receiver.
Set up in 1989, CPL currently has offices in Belfast, Dublin, Limerick, Cork and Galway.
CPL floated 20 per cent of the company in June of last year on the AIM and DCM markets.
(MB)
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