Less Ads, More Data, More Tools Register for FREE

Electra sells Elian to Intertrust for £435m

Mon, 06th Jun 2016 07:33

(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 £41m or 26% and equivalent to an increase in net asset value of 83p a share, on the valuation of the investment at 31 March 2016.This equates to a return of around 2.6 times original cost, and an anticipated internaI rate of return around 50%, Electra said.Jersey-based Elian provides offshore trust and corporate services and employs more than 600 people. It has operations in 14 other jurisdictions serving 3,000 corporate, financial institution, investment fund and private clients worldwide, Electra added.

Related Shares

More News
10 Jan 2022 11:08

SMALL-CAP WINNERS & LOSERS: Canadian Overseas soars on oil discovery

SMALL-CAP WINNERS & LOSERS: Canadian Overseas soars on oil discovery

10 Jan 2022 10:25

Electra set to be Unbound, reports Hotter revenue rise at end of 2021

Electra set to be Unbound, reports Hotter revenue rise at end of 2021

10 Jan 2022 08:13

LONDON BRIEFING: Tortilla Mexican Grill sizzles in Q4 despite Omicron

LONDON BRIEFING: Tortilla Mexican Grill sizzles in Q4 despite Omicron

23 Dec 2021 15:54

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

9 Dec 2021 10:49

IN BRIEF: Electra Private Equity sets listing as Unbound for January

IN BRIEF: Electra Private Equity sets listing as Unbound for January

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.