21 Jan 2016 12:13
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Don't have an account? Click here to register.Electra Partners sells Vidal Group to M3 Inc
Fri, 07th Oct 2016 07:30
(ShareCast News) - Electra Partners' portfolio company AXIO Group has received a binding offer from M3 Inc. to purchase Vidal Group, a European provider of reference drug information for healthcare professionals, for €100m.The proposed transaction, which remains subject to certain conditions, would be the fourth major realisation from AXIO's portfolio.At today's exchange rates, Electra would receive proceeds of £55m from AXIO, which is an uplift of £17m on the valuation of its investment at the end of March and equivalent in its net asset value of 35p per share.Electra said the sale would increase the total cash proceeds received from its investment in AXIO to almost £250m, or 2.8x original cost, and the total return, including Electra's investment in the remaining AXIO businesses, to 4x original cost.Alex Cooper-Evans, partner at Electra Partners, said: "The proposed sale of Vidal is another example of the successful implementation of our strategy for AXIO. We started in 2013 with a complex portfolio of disparate assets which we have transformed by putting in place the right long-term strategy and delivering with operational improvement, growth investment and M&A. This transformation has resulted in AXIO's businesses becoming highly attractive to strategic buyers."
More News
20 Jan 2016 11:11
Electra board not independent enough - shareholder advisor PIRC
* PIRC rejects Bramson, Brindle as non-executive directors * Follows successful election to the board on Nov. 5 * Calls for investors to reject both at Jan. 25 AGM By Simon Jessop and Freya Berry LONDON, Jan 20 (Reuters) - The board of Electra Private Equity is not indepen
Read more18 Jan 2016 16:14
14 Jan 2016 16:19
4 Jan 2016 07:55
Grainger to sell equity release division
(ShareCast News) - Grainger was expecting a cash boost on Monday, with the announcement it was selling its equity release division. The FTSE 250 landlord - the UK's largest listed residential lessor - reported it had exchanged contracts with Turbo Group Holdings to sell its Retirement Solutions busi
Read more30 Dec 2015 14:41
Watchstone Group chairman buys shares
(ShareCast News) - Richard Rose, non-executive chairman of Watchstone Group - formerly Quindell - bought 100,000 shares in the insurance technology company at 257.88p each. This marked Rose's first purchase and gives him a 0.2% interest in Watchstone's issued share capital. Watchstone shares rocket
Read more11 Nov 2015 10:30
Electra Private Equity completes Park Resorts merger
(ShareCast News) - Investment trust Electra Private Equity has completed the merger of Parkdean Holidays and Park Resorts Group. The latter comprises Electra's portfolio companies Park Resorts, South Lakeland Parks and Southview and Manor Park and the FTSE 250 group said the merger will combine two
Read more6 Nov 2015 17:39
5 Nov 2015 15:23
UPDATE 2-Activist investor Bramson wins battle for UK's Electra
* Bramson's Sherborne wins two board seats * Electra Chairman Roger Yates resigns * Sherborne to conduct strategic review (Recasts, adds Electra chairman resignation, detail) By Freya Berry LONDON, Nov 5 (Reuters) - Activist investor Edward Bramson staged a dramatic coup
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