Benchmark Holdings: Equity Development
has announced the disposal of its Genetics operation to Starfish Bidco AS for an enterprise value (EV) of £260m, comprising an initial consideration of £230m in cash plus an additional contingent consideration of up to £30m. The disposal indicates an EV/EBITDA multiple of 17.9x (£14.5m E). The contingent consideration is based on the performance of the core salmon sub-segment (salmon eggs production) of the Genetics Business from 1st October 2024 to 30th September 2027. Conclusion of the disposal is expected in Q1 25, subject to shareholder approval and regulatory clearance.
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