Wool Equities confirms Canesis deal

Rural science investor Wool Equities has confirmed textile arm Canesis will sell its Wool Interiors business to Wool Research for $1.7 million.

The deal, which is expected to be sealed at the end of the month, will see Canesis repay a shareholder loan to Wool Research of $700,000.

Wool Equities would also buy from Canesis its shareholding in biotech concern Keratec in consideration for repayment of a shareholder loan worth $1.32 million.