18th Feb 2015 13:33
LONDON (Alliance News) - 3i Group PLC Wednesday said it has sold its remaining 4.7% stake in Phibro Animal Health Corp since the turn of the year, generating proceeds of GBP36 million, meaning it is no longer a shareholder in the animal health and mineral nutrition company.
Including the GBP36 million, 3i said, the group has received total proceeds from its stake in Phibro of GBP149 million.
"Including these final proceeds, 3i has received total proceeds from its stake in Phibro of GBP149 million and 3i?s total return from its investment in Phibro is 1.7x. Proceeds of GBP126 million have been received in the current financial year, representing an uplift of GBP33 million over the March 31, 2014 valuation of GBP93 million," 3i said in a statement.
3i shares were up 0.5% at 474.90 pence on Wednesday.
By Samuel Agini; [email protected]; @samuelagini
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