Morgan Stanley sells Zenith parent company stake

LONDON, March 6 Thu Mar 6, 2014 3:44am EST

LONDON, March 6 (Reuters) - Morgan Stanley has sold its majority stake in Accelerate Acquisitions, the parent company of British car provider Zenith, to UK private equity fund HgCapital for 3.8 times its original investment.

Morgan Stanley said on Thursday that the sale by its private equity arm came four years after its initial investment in the car fleet manager.

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