B.p Marsh Share Price (BPM)

What's your take on this? I expected more interest given the discount we are trading at? Thanks in advance

Aim-traded investment company BP Marsh & Partners (BPM: 129p) pulled off a brilliant deal yesterday by selling 80 per cent of its stake in global insurance broker Hyperion Insurance Group - one of the fastest-growing companies in the UK - to global private equity firm General Atlantic. The consideration of £29.2m equates to a cash return of 100p a share. In addition, the acquirer has a call option to purchase the balance of the stake for £7.3m either before the third anniversary of completion of the above disposal or upon Hyperion undertaking an IPO. There is also a clause that could mean a further £2m cash payout for BP Marsh if Hyperion undertakes an IPO within 12 months and dependent on certain price conditions being met. The bottom line is that the £29.2m cash proceeds from the sale, the carrying value of the remaining 2.76 per cent stake in Hyperion (worth £7.3m, or 25p a share) and £6.1m loan made by BP Marsh to Hyperion at a minimum interest rate of 7.5 per cent are, in aggregate, worth more than BP Marsh's own market value of £38m. That, in effect, means investments in another eight investee companies, worth 57p a share, are in the price for free. Moreover, once the disposal goes through, BP Marsh will be sitting on net funds of £20m, worth 68p a share, after all tax liabilities and adjusting for the above loan to Hyperion, and will still have a further 45p a share of equity and loans in Hyperion. This not only substantially mitigates risk, but makes the shares, trading on a discount of well over 30 per cent to pro-forma book value, a bargain buy at 130p. I have raised my price target to 160p

23 times average volume traded so far today! Anyone care to guess how long we are looking at before the cash will come through from the disposal? I'm sure I read months end somewhere??

really?. no qoute?

£16k

Venture capital provider B.P. Marsh & Partners climbs 3.3 percent after it announced the sale of 80 percent of its stake in Hyperion at Wednesday's market close for a cash consideration of 29.2 million pounds ($44.13 million