With a continued decline in performance in Books and Gifts Direct (BGD), the Board of The Quarto Group Inc. (LSE:QRT) has reaffirmed that BGD is not a core business and negotiations with a potential acquiring group are ongoing. Heads of Terms have been signed and the deal is anticipated to close in the coming weeks. The proposed total consideration of AUD $5.75 million comprises AUD $1.0 million of cash consideration payable on completion, with a further AUD 4.75 million in interest-bearing loan notes which are repayable out of cash generated by the business, but with a long-stop date of 10 years.