Electra sells remaining stake in Allflex for £70.3m

Electra Private Equity said it had sold its remaining stake in Allflex Corporation to an existing shareholder for £70.3m.

Electra said the proceeds were a £1.5m uplift, or 2% on the valuation of its investment in Allflex at 30 September 2016, equivalent to an increase in NAV per share of 3 pence.

Including proceeds already received, this equated to a return of 1.9 times original cost on Electra's 2013 investment in Allflex; an investment rate of return of 23%.

Allflex makes animal intelligence and monitoring technologies for livestock, pets, fish and other species.

It designs, produces and distributes a variety of products such as radio-frequency identification (RFID) and visual ear tags, tissue sampling devices, RFID implants, monitoring devices, milk meters, and other farm management equipment.