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Chesterton has sold 16 London-based residential estate agencies out of receivership to CIC International for about £1m.
Chesterton is to sell five commercial property offices in London, Newcastle, Cardiff, Southampton and Leeds out of receivership to Atisreal, securing the future of 115 staff.
Chesterton, the commercial property company, is to be acquired by Resurge, an Aim-listed company that is exercising its right to acquire a stake from Phoenix Acquisitions.
Chesterton International, the commercial property company, is expected to accept a £10m takeover offer from Phoenix Acquisitions, a vehicle set up by one of its largest shareholders.