1 Jul 2016 06:27
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Don't have an account? Click here to register.Electra partially realises Allflex investment
Fri, 01st Jul 2016 07:42
(ShareCast News) - Electra Partners announced on Friday that, on behalf of Electra Private Equity, it has partially realised its investment in Allflex Corporation in a series of transactions between Allflex, its shareholders and Public Sector Pension Investment Board, a Crown corporation in Canada.The FTSE 250 firm said it has received total proceeds of €72m from the redemption of preferred equity and from the sale of 28% of its 15% equity interest.This is equivalent to the return of 0.8x cost, Electra said.Additionally, Electra retains an interest in Allflex with a value of €78m, using the valuation implied by the transaction, which represents an uplift of 48% on the valuation of the investment at 31 March or an increase in net asset value by 81p per share."Electra originally invested in Allflex in 1998," the board confirmed in a statement."In 2013 Electra sold its investment in Allflex, generating a return of 15x original cost and an internal rate of return of 28%."Electra then made a new equity investment of £57m for a minority stake in Allflex alongside BC Partners."In 2015 Electra made a further investment of £11m to support Allflex's $250m acquisition of SCR."The return on the 2013 investment is current;y 1.8x original cost and an internal rate of return of 24% at the transaction's implied value.
More News
20 Jun 2016 07:44
Electra Private Equity loses two board members
(ShareCast News) - Investment trust Electra Private Equity announced the resignation of two of its directors on Monday, with Dame Kate Barker and Francesca Barnes departing with immediate effect. The FTSE 250 firm said Barker joined the board in 2010 and was chairman of the remuneration and nominati
Read more20 Jun 2016 06:48
Electra board members resign after company shake-up
LONDON, June 20 (Reuters) - Electra Private Equity, which has been the focus of a campaign by activist investor Edward Bramson, said on Monday that board members Kate Barker and Francesca Barnes were resigning with immediate effect. The resignations follow the appointments within the last t
Read more17 Jun 2016 15:07
14 Jun 2016 08:56
Electra cancels large credit facility
(ShareCast News) - Electra Private Equity announced the cancellation of a large credit facility on Tuesday. The FTSE 250 firm said that, having carefully reviewed its cash position, it has decided to cancel its existing £275m multi-currency revolving credit facility. Its board confirmed that the fa
Read more6 Jun 2016 07:33
Electra sells Elian to Intertrust for £435m
(ShareCast News) - Electra Partners said it had agreed to sell corporate services provider Elian to Intertrust Group for £435m. After completion of the deal, which is expected during the third or final quarter of 2016, Electra said it expected to receive total proceeds of around £200m, an uplift of
Read more6 Jun 2016 06:41
RPT-Dutch trust operator Intertrust buys Elian for 435 million pounds
(Repeats to add Reuters Instrument Code for Electra) AMSTERDAM, June 6 (Reuters) - Intertrust plans to buy rival Elian for 435 million pounds ($625.31 million) from private equity firm Electra to expand in the Cayman Islands, Guernsey, Luxembourg and the Netherlands, the Dutch trust firm sa
Read more6 Jun 2016 06:31
27 May 2016 14:18
Directors dealings: Activist investor Bramson tops up stake in Electra
(ShareCast News) - Electra boss Edward Bramson picked up another large slice of shares in the listed private equity outfit on the same day of his appointment as interim chief executive officer of the firm. Bramson and one of his associates, Ian Brindle, were named to Electra Private Equity´s board o
Read more