No buyer for 'Dolly the sheep' business
KPMG Corporate Finance and a four-man team from PPL Therapeutics have failed to find a buyer for the company famous for the first cloned sheep.
Instead they will sell its cloning technology and its other assets piecemeal, the FT reported today.
PPL chief financial officer Lindsay Dunsmuir said the company was in talks with a ‘limited number of parties’ to sell a range of assets including its headquarters and laboratories near Edinburgh.
Dunsmuir said he had received firm offers for PPL’s offices and one of its farms.
Based on the latest share price of 4.5p, the company is valued at £5.3m.
At their peak in 1997 – the year of Dolly’s creation – they were worth 460p.