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Raymarine confirms sale talks with Garmin

Raymarine issued a brief statement today confirming that it is in preliminary discussions with mobile navigation giant Garmin and other parties concerning the possible sale of the British-based marine electronics manufacturer.

"The company continues to explore a sale of the business or an equity fund-raising and, in the absence of either of these, to secure additional medium-term debt facilities with its banking syndicate," Raymarine said in the statement.

The company said that, at this stage, there can be no certainty that an offer will be made nor as to the terms on which any offer might be made.

At this time, it is not known whether any offer will provide any value for ordinary shareholders, the company added.

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