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Quotient announces sale and leaseback of Edinburgh facility.

Quotient announced it has entered into definitive agreements for the sale and leaseback of its recently completed Biocampus facility located near Edinburgh, Scotland.Biocampus is a state-of-the-art facility designed to house Quotient's rapidly growing liquid reagent manufacturing operations, research and development laboratories and related management offices. These activities are currently spread over three sites. The Biocampus facility was designed and built with the support of Scottish Enterprise. Under the terms of the definitive sale and leaseback agreements, Quotient will receive gross proceeds from the sale totaling GBP 14.95 million, or $20.9 million. After deducting the rental deposit required under the lease and selling costs, net proceeds available to the Company for working capital purposes will be approximately GBP 10.9 million, or $15.3 million. In return, Quotient has entered into a 35-year lease over the Biocampus facility. Completion of the sale and commencement of the lease is expected on March 16, 2018.

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Publication:The Fly
Geographic Code:4EUUK
Date:Feb 20, 2018
Words:155
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