BAXI Partnership Ltd has sold its stake in Preston North End.
The shares, which amounted to just over 26 per cent of the shares in Preston North End plc, were sold to a newly formed company - 'The Friends of Preston North End Ltd'.
The new company has been formed by club chairman Derek Shaw and Steve Jackson the managing director of New Reg Ltd, the club's official shirt sponsors.
David Erdal of Baxi Partnership Ltd said: "We have had a number of discussions with 'The Friends of Preston North End' and are satisfied that they want to see the club and company prosper.'
Derek Shaw said: "Baxi Partnership have been good to deal with and they have put the club first in agreeing to the sale.
"We believe, as local business people, we are well placed to help Preston North End move forward in what are very uncertain times in football."
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