The Tanfield Group is believed to be close to a deal to sell its Snorkel aerial work platform division. In a statement released today, the company said: “The board is pleased to report that sufficient progress has been made on the structure and broad terms of an acceptable proposal for the sale of its powered access division, to grant the preferred potential purchaser a short period of exclusivity in which to complete its due diligence with a view to mutually form a contract that will be executable subject only to shareholder approval.”
Tanfield said further updates will be issued in due course.
RER is choosing not to release the names of rumored buyers at this point.
