The Globe and Mail reports in its Tuesday edition that Dye & Durham has sold a company it was forced to divest by Britain's competition regulator. The Globe's Sean Silcoff writes that Dye & Durham said Monday it had agreed to sell TM Group (UK) Ltd. to German alternative asset investment firm Aurelius Group for which it will receive $85.5-million in cash at closing, expected next month. That compares with the $156-million it paid for TM two years ago. However, Dye & Durham could receive another $70.1-million in potential earn-out payments from now until 2026, bringing it close to the original amount it paid. Canaccord analyst Robert Young says he deal "removes a bunch of noise" for the company. He says, "It was something that has been going on in the background and dragging on for a while." The company said it would use the proceeds to reduce its $1.29-billion in debt, which is 3.8 times Mr. Young's forecast operating earnings for the next 12 months. Dye & Durham has slashed costs and bought back stock over the past year. It has forecast it will earn revenue of $120-million, and operating earnings between $65-million to $70-million, in its fourth quarter ended June 30, both down year over year.