Imperial Innovations Sells Portfolio Firm Permasense for GBP41 Million
October 03 2016 - 7:50AM
Dow Jones News
LONDON--Imperial Innovations Group PLC (IVO.LN) said Monday that
it has sold portfolio company Permasense Ltd., a engineering
technology company, for a total consideration of 40.6 million
pounds ($51.84 million).
The investment company sold Permasense to Emerson Electric Co.
(EMR). The deal consideration comprises of an initial consideration
of GBP30.6 million and a further consideration of up to GBP10.0
million dependent upon Permasense achieving certain performance
targets.
Shares of Imperial Innovations at 1118 GMT trading 2.8% lower at
425 pence.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
October 03, 2016 07:35 ET (11:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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