1 Jul 2016 06:27
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Don't have an account? Click here to register.Electra Private Equity completes Park Resorts merger
Wed, 11th Nov 2015 10:30
(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 portfolios of holiday parks totalling 73 sites, giving the enlarged company a value of £960m.The combined company will have earnings before interest, tax, depreciation and amortisation of more than £100m.Electra said it has received cash proceeds of £95m on completion, which will take the total proceeds to £109m, representing 82% of the original investment costs. The group holds a 45% stake in the combined group and loan notes of £196m."We will now focus on further organic and investment-led growth as well as capturing synergies created by the combination of two highly complementary estates," said group investment partner Alex Fortescue.Electra shares were down 0.06% to 3,617.00p at 1105 GMT on Wednesday.
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