The following shows the key steps involved in a Cavendish managed sale exercise and a guide to the likely timing:

Stage Months from start
Appointment of advisors 0
Preparation of information memorandum 1
Agree list of potential purchasers 1
Commence marketing 2
Initial meetings with potential purchasers 3
Receive indicative offers 4
Draft Heads of Agreement 5
Completion 6 to 7