Granada Group?s sale of its computer services business, Granada Computer Services International, looks set to be delayed for several weeks as the company assesses a number of bids and considers the possibility of a management buyout.
Reports have suggested that two of the frontrunners are ICL Sorbus and US technology services group Comdisco.
But the original asking price of #90 million has plummeted to #50 million because of a declining market.
A management team led by Granada Computer Services managing director Gordon Towell is understood to be attempting to raise backing to buy the company.
A source close to the company said ?a close on a sale? is not expected for some time ?but the company is looking to sell?.
Granada Group is considering ?advances from some companies and is exploring other possibilities?, the source said.
?The computer services group is not core to Granada?s business and the group?s chairman has gone on record saying that the company?s future lies in the core businesses of hotels, catering, leisure and media. This does not include computer maintenance,? he said.
Richard Holway, services industry analyst, said: ?A management buyout is quite clearly the preferred option because the management team is retained, but the price could be knocked down even further as a result.?
He added that the dramatic decline of the hardware maintenance market had already impacted on the original price for the division.
Granada Group prepared the ground for the sale of the computer services arm in June by writing off goodwill debts of #160 million acquired when it was building up its computer maintenance division.
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