British Bloodstock Agency said today it is selling its Irish operations for £2.46 million (euro 3.88 million) in order to help the company go private.
The company is also selling its UK businesses for £1.6 million sterling.
Last year the Kildare-based Irish bloodstock agency (BBA Ireland) was a major factor propelling the annual financial results of the British Bloodstock Agency to their highest levels in 10 years.
In a statement the company said an amount of about £1.88 million sterling is expected to be returned to shareholders shortly after completion of the disposals.
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It said remaining properties to be divested and ways in which cash can be returned to shareholders are to be examined.
AFP