RBG Holdings PLC said on Wednesday that it had completed the disposal of Lionfish Litigation Finance Ltd to Blackmead Infrastructure Ltd.

Shares in RBG Holdings, a London-based professional services firm were up 13% at 30.45 pence in London on Wednesday morning.

RBG Holdings said the consideration for the disposal was up to £3.1 million, comprising an immediate payment of £1.1 million to repay an intercompany loan, and an additional payment of £2.0 million.

Lionfish is a London-based specialist finance business, and Blackmead Infrastructure is a London-based private company, owned by Averon Park Ltd.

Chief Executive Officer Jon Divers said: ‘Having agreed that LionFish would be better placed in a dedicated asset management business, we are pleased to have completed this disposal.

‘We have delivered cash back to the group, reduced our net debt, with the potential to receive additional cash depending on LionFish’s future performance.’

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