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10Sep92 UK: MASSEY FERGUSON BUY-OUT OF MF INDUSTRIAL AGREED IN PRINCIPLE.

The Massey Ferguson Group has agreed in principle to a management buy-out of backhoe loader and skid steer manufacturer M F Industrial. The company is a self-contained unit of Varity Corporation's M F Group based in Manchester with a staff of 440.Financing is being arranged by Arthur Anderesen Corporate Finance and the management team is being supported by an international squity syndicate led by Granville Development Capital.

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