James Fisher and Sons, the marine services group, slipped 4% to 374p after confirming the sale of James Fisher Nuclear (JFN).
The sale to Myneration, which is a subsidiary of Rcapital, is part of the company’s “ongoing commitment to rationalise and focus the group’s portfolio.”
Management and staff will remain with the business following the sale, and Rcapital will provide JFN with a £3mln secured revolving credit facility to “fund the growth of the business.”
"The sale of JFN is a further step in the implementation of our strategy to rationalise and focus the portfolio and, taken together, the business and asset disposals made over the last three months are important steps in streamlining the Group's operations and strengthening the balance sheet,” said chief executive Jean Vernet.