which was first reported in November last year<\/a>, comprises an initial consideration of \u00a3230m and contingent consideration of up to \u00a330m.<\/p>\nFor the last 12 months to 30 June 2024, Benchmark\u2019s Genetics Business generated revenue of \u00a357m and adjusted EBITDA of \u00a314.5m. The net assets of the Genetics Business as of 30 June 2024 amounted to \u00a352.8m.<\/p>\n
Post completion accounts adjustments, based on the cash, debt and working capital position of the genetics business, as well as certain other specified liabilities agreed between the companies, the deal is expected to realise gross cash proceeds of approximately \u00a3194m, excluding any earn-out consideration.<\/p>\n
Following repayment of Benchmark’s unsecured floating rate listed green bond and associated make-whole and swaps which currently amounts to around \u00a363m as well as the drawn amount of about \u00a323.75m under the group’s revolving credit facility, which is expected to complete on or around 15 April, net cash proceeds will be approximately \u00a3107.5m.<\/p>\n
Details on the strategy of the continuing business and use of proceeds, further to what was disclosed on 25 November 2024, will be provided in mid-April.<\/p>\n","protected":false},"excerpt":{"rendered":"
The deal comprises an initial consideration of \u00a3230m and contingent consideration of up to \u00a330m<\/p>\n","protected":false},"author":238857,"featured_media":2137049,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"coauthors":[62387],"class_list":["post-2137048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","tag-featured-story","tag-south-yorkshire"],"yoast_head":"\n
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