Maxwell Reveals Talks to Sell Off Some Assets

Maxwell Communications Corp. is in talks to sell some of its non-strategic businesses, Chairman Robert Maxwell said Wednesday.

“Negotiations are well advanced in a number of transactions that we expect to complete very shortly,” Maxwell told shareholders at the company’s annual meeting. He declined to give details of what businesses were involved.

Maxwell Communications’ holdings include U.S. publisher MacMillan Inc. and the U.S.-based Official Airlines Guide.

Maxwell said the London-based communications and publishing giant intends to repay some $400 million in bank debt by Oct. 23.