Alternative Investment Partners Limited agreed to acquire 57.5% stake in Respin LLC from Nektan plc (AIM:NKTN) for £2 million on December 27, 2018. Of the total consideration payable, £1 million would be paid on completion of the transaction and remaining £1 million will be paid during 2019. In addition to purchase price of £2 million, Alternative Investment Partners will provide £0.3 million in working capital to Respin. The transaction is expected to close early in 2019. Tom Griffiths and David Coaten of Stockdale Securities Limited acted as nominated adviser to Nektan.