Van hire firm Northgate to buy accident claims handler and ditch CEO
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(Reuters) - Commercial vehicle rental firm Northgate Plc has struck a deal to buy Redde Plc for about 394 million pounds in shares, expanding into accident claims services in an attempt to revive growth. Northgate also announced on Friday the immediate departure of its chief executive, Kevin Bradshaw, who will be replaced by Redde's CEO Martin Ward when the deal closes. Northgate did not give a reason for Bradshaw leaving. "The combination will create a champion automotive services business..