JPEL Private Equity said it expected to receive proceeds of around CHF46m after Caisse de depot et placement du Quebec announced an investment in Datamars.

Datamars is a global company based in Switzerland and its technology is used to identify and track livestock, companion animals and textiles.

JPEL said the transaction was subject to regulatory and change of control approvals as well as customary completion conditions and procedures, with closing expected by the end of April.

It said the sale of Datamars was likely to result in a realised investment return of approximately 3.5x and a IRR of 50.6% for JPEL, on a CHF basis.

JPEL said that based on the sale price, it expected to receive proceeds of approximately CHF46m, which reflected JPEL's current carrying value.

JPEL said it had increased the value of Datamars by approximately 96% since December 2015, based on ongoing sale discussions.

At 8:09am: (LON:JPEL) JPMorgan Private Equity Ltd share price was +0.01p at 1.28p