British low-carbon project developer Camco International Ltd
The UK advisory business was considered to be outside the company's core business of clean energy project development and carbon, Camco said on Monday. The cash raised as part of this transaction will be used to grow these businesses in its key geographic markets.
The company, however, added it would continue its advisory business in Africa and provide certain advisory services globally outside the UK.
Camco Advisory Services Limited, which currently employs 58 people, reported a net pretax profit of 500,000 pounds in 2010.
Camco develops clean energy projects under the U.N.'s Clean Development Mechanism (CDM), receiving offsets called certified emissions reductions (CERs) in return.
The benchmark contract for CERs fell to a fresh record low of 3.45 euros (2.85 pounds) a tonne in early trade on Monday.
Shares in Camco were up about 1.64 percent at 7.95 pence at 0805 GMT on Monday in London.
(Reporting by Adveith Nair; Editing by Neil Maidment)