Judges Scientific PLC - London-based scientific instrument sector investor - Increases its interest in majority-owned subsidiary Bordeaux Acquisition Ltd to 88% from 76%. Says the transaction price was GBP1.8 million, based on an enterprise value of GBP12.9 million for the total of Bordeaux, plus excess cash. Bordeaux is an acquisition vehicle through which Judes purchased Deben UK Ltd in 2011. Judges owned 51% of Bordeaux in 2011 and increased this to 76% after Bordeaux's acquisition of Oxford Cryosystems Ltd in 2017. Bordeaux generated earnings before interest, tax, depreciation and amortisation of GBP2.8 million in 2020. Judges expects the latest step-up in ownership to be immediately earnings enhancing.
Current stock price: 6,700.00 pence
Year-to-date change: up 5.0%
By Zoe Wickens; zoewickens@alliancenews.com
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