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Phoenix Four set for further windfall

The owners of MG Rover are to split a £6.1m windfall from a closely linked vehicle finance company.

John Towers, Peter Beale, Nick Stephenson and John Edwards, who bought Rover for £10 five years ago, will take the money when the last monthly payments are made on car loans from their joint venture with HBOS, this year or early next.

Published: Tue, 19 Apr 2005 07:43:47 GMT+01

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FT - page 6