Cookson, the materials science firm, has sold its American precious metals business to investment guru, Warren Buffett.
The actual purchaser is Richline, an offshoot of Buffetts's Berkshire Hathaway vehicle.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The gross assets of the businesses being acquired by Richline are about $69.8m (£44.4m) with Cookson's profitable European precious metals operation unaffected by the transaction.
The disposal has seen Cookson shares climb 5% in morning trading. Over the last 12 months, the stock is ahead by 7%.
BS
-
Number of high-earning women jumps 12% – how to convert income into pensionsMore women than ever are paying the highest rate of tax as record numbers succeed in high paying professional roles. But their pension saving still needs to catch up
-
Yoshiaki Murakami: Japan’s original corporate raiderThe originator of Japanese activism, Yoshiaki Murakami, was disgraced by an insider-trading scandal in 2006. Now, he's back, shaking things up
