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New Hopes of Buy Out for York Based CPP

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1:27pm 27th March 2013

There are new hopes of a buy out for York-based financial firm CPP.

Hamish Macgregor Ogston who owns 60% of the firm has entered talks to buy out the rest of the company for 1p a share.

It raises new hopes that 2,000 jobs at the company could be saved although a statement from CPP to shareholders states:

"It should be noted that the approach is at an early stage and there can be no certainty that an offer will
be made or as to the terms of any such offer, should one be forthcoming."

It means the deadline for CPP to sort out it's finances has been extended from Sunday to the 24th April.

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