Braveheart Investment Group PLC (AIM:BRH) has announced the sale of its stake in microscopic imaging company Phasefocus Holdings Ltd for £2.5 million.
Bruker Corporation will wholly acquire Phasefocus under the deal, Braveheart said in a statement, paying £17.74 per share for a total consideration of £5 million.
Braveheart holds a 48.3% share in Phasefocus, with the company expecting to net £2.1 million from the deal after expenses.
The AIM-listed firm had upped its stake in Phasefocus in August, paying £8 per share at the time.
Given customary closing conditions are yet to be met, Braveheart anticipated the deal would likely be completed in the first quarter of next year.
Braveheart added that a decision would be made following completion of the deal on whether to distribute the proceeds to shareholders or reinvest as per its strategy.