Borders Group said today it agreed to sell most of its British and Irish subsidiaries to London-based private equity firm Risk Capital Partners.
Borders said the sale was for £10 million up front (about €14.3 million), plus an additional payment of up to £10 million contingent on the future performance of the business.
Risk Capital has set up a new company called Bookshop Acquisitions to acquire the British and Irish businesses.
Borders will receive an equity interest of about 17 per cent in the new company.
