Stephens Group announced this week that it is selling its stock and debt investments in Huntingdon Life Sciences to an undisclosed foreign investor. Stephens has been hit by animal rights protests, but the company insists that the decision is motivated by business interests rather than animal rights protests.
Stephens spokesman Frank Thomas told Arkansas Business,
If anything, this is a good deal for HLS, a good deal for the new owners and a good deal for Stephens. This company has for seven decades bought and sold businesses. This is nothing new. This company is always looking to invest and make a good deal. The new investors obviously like what they see.
In a press release issued by Stephens Group, Warren Stephens reiterated that, “We are plead to have accomplished our goal of supporting Huntingdon financially until it returned to profitable operations. … We are pleased with the return on our investment and convinced that the new investors acquiring our position are equally committed to Huntingdon’s long-term stability and success.”
The deal should be finalized by the end of the month, and the new investor will be identified in required filings with the U.S. Security and Exchange Commission.
Source:
Stephens sells interest in animal testing lab. Gwen Moritz, Arkansas Business, January 8, 2002.