Raymarine Plc (RAY.L) said that its board has entered into exclusive discussions with a single party over the possible sale of the company's business and assets. The board also said it is no longer in discussions with Garmin Ltd.
It is envisaged that the proposed transaction will be structured by means of a sale of Raymarine Holdings Ltd., a unit of Raymarine, and the whole of Raymarine's bank debt will be repaid on closing.
Raymarine's other creditors will continue to be paid in the normal course.
The proposed transaction will be subject to the potential buyer completing satisfactory due diligence and to the agreement of definitive documentation.
Further, Raymarine said that it in constructive discussions with its banking syndicate in relation to an extension to the Raymarine group's current banking facilities which expire on March 31, 2010.
As a result of the proposed transaction structure, the board confirmed that it is no longer in discussions with any parties regarding a potential offer for the company.
For comments and feedback contact: editorial@rttnews.com
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.