Fannin minorities cost DCC £1.46m

INDUSTRIAL holding company DCC has continued its policy of buying out the minority shareholdings in its subsidiary companies with the acquisition of the outstanding 12 per cent of medical suppliers Fannin for £1.46 million. DCC has paid for the 12 per cent of Fannin held by the company's founders and management through the issue of 571,955 shares worth £1.46 million at the current DCC share price. The vendors have undertaken not to sell these DCC shares for two years.