The Rank Group is to sell its holiday camp division, which includes Butlins, to a group led by Bourne Leisure in a deal that could be worth £700 million. Bourne has backing from both Candover Investments and Legal & General Ventures, who will take a percentage share of the business. For Rank, the deal allows it to continue its programme of restructuring and to use the income from the sale to offset some of its debts.
