Johnson Matthey PLC - London-based speciality chemicals - Sells Diagnostic Services division to private equity investors Sullivan Street Partners and Souter Investments for £55 million in cash, with completion of the deal expected in the third quarter. Johnson Matthey says disposal of the business, which provides detection, diagnostic, and measurement services, is part of a divestment programme aiming to raise at least £300 million by the end of March next year. Diagnostic Services recorded £4 million in operating profit on external sales of £55 million in the financial year that ended March 31, 2022.
Current stock price: 1,912.50 pence, effectively flat early Wednesday in London
12-month change: down 14%
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