The Brink’s Co. of Richmond,
a Richmond-based security company, sold its BAX Global
air freight unit
to Deuthsche Bahn AG, Germany’s state-owned railway,
for $1.1 billion. BAX accounted for 51 percent of Brink’s
2004 revenue. The sale allows Brink’s to pay down debt
and position itself for new business ventures with
the estimated $900 million in proceeds. (Richmond Times-Dispatch)
Circuit City, a Richmond-based retailer of
consumer electronics, sold its MusicNow unit in Chicago
to Internet services provider America Online of
Dulles. AOL Music Now, as the service will be known,
will offer listeners the opportunity to preview and
purchase music online. MusicNow had begun business
as FullAudio in 1999 and was purchased by Circuit City
in 2004. (BIZ)
