Increasing focus on core businesses
Great Universal Stores announced the sale of a further 6 per cent tranche of its shares in South African furniture, electricals and household goods retailer Lewis Group yesterday forÂŁ15 million.

The move followed GUS's initial public offering of 40 per cent of the wholly-owned subsidiary on September 30 on the Johannesburg Stock Exchange, which raisedÂŁ96 million. GUS has also agreed to offer a further 4 million shares to Lewis Group's 5,800 employees through the latter's share incentive scheme 'as and when required', according to Lewis Group.

GUS owns Argos and credit agency Experian, as well as a 67 per cent stake in Burberry Group. It bought UK-based address management business QAS forÂŁ106 million on Tuesday to 'concentrate on higher growth areas'.

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