ECI pulls sale of Reed & Mackay; focus on growing US business

It would appear the sale of Reed & Mackay, the corporate travel agent favoured by some of the City's most prestigious firms, has been called off.

I'm hearing from good sources ECI Partners, the private equity firm that owns Reed & Mackay, has pulled the auction after appointing bankers from NM Rothschild to run a sale process to raise £100 million.