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Challenger Acquisitions inks 'significant' $6mln deal to sell stake in wheel engineer

Challenger Acquisitions Limited (LON:CHAL) is selling its interest in the engineering group Starneth in a deal worth up to US$6mln.

Separately, Challenger has brokered a five-year cooperation agreement under which Starneth can provide the design, engineering and project management for observation wheel projects and Challenger can provide potential funding options for the developers of select projects.

Challenger CEO Mark Gustafesen tells Proactive: ''[The deal] was a very good way of addressing the long term timelines to get these projects moving forward''.

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