Built Cybernetics Sells Partial Stake in Aukett + Heese
Built Cybernetics PLC (AIM:BUC) has agreed to sell a 25% stake in its German architecture business, Aukett + Heese Frankfurt GmbH, for €250,000 (£214,000). The transaction will reduce the company's ownership from 50% to 25%, with proceeds expected soon after notarisation. This move is intended to free up capital for reinvestment in Built Cybernetics' smart buildings operations. The Frankfurt business had a carrying value of £300,000 at the end of March and contributed £54,000 to the company's share of associate profits over six months. The firm also received management charges and dividends from this operation during that period. CEO Nick Clark highlighted the strategic benefit of reallocating capital toward smart buildings for faster revenue growth. Although Built Cybernetics will receive fewer future dividends from Frankfurt, it retains 50% of the management charge in both Frankfurt and Berlin operations.
Topics: Capital Reallocation M&A Smart Buildings