14 June 2006
For Immediate Release 14 June 2006
Disposal of SyAqua Brazil
In line with the strategy stated in the Interim Results announcement dated 7
June 2006 to divest the SyAqua Shrimp business, Genus plc ('Genus') the world's
leading animal genetics company, is pleased to announce the disposal of SyAqua
Brazil to an MBO-led team for a consideration of US $6.0m (£3.25m) in cash,
which approximates net asset value.
For the ten months ended 30 April 2006, SyAqua Brazil generated turnover of
£2.1m and an operating profit of £0.3m before research and development expense.
Commenting on the disposal Richard Wood, Chief Executive, said "We have moved
swiftly to implement our strategy for disposal. With Brazil now sold, we are
considering offers for the Mexican and Thai shrimp businesses."
FOR FURTHER INFORMATION
Richard Wood, Chief Executive Tel: 01256 345971
David Timmins, Group Finance Director Tel: 01256 345977
Charles Ryland / Suzanne Brocks Tel: 020 7466 5000
This information is provided by RNS
The company news service from the London Stock Exchange