Strategic Equity receives GBP31 million from Medica takeover

(Alliance News) - Strategic Equity Capital PLC on Wednesday said it has received GBP30.8 million through Medica Group PLC's takeover.

Strategic Equity is a specialist alternative equity trust, maintaining a portfolio of UK smaller companies. Medica is a Hastings, England-based provider of services such as X-ray and MRI scan analysis to hospitals.

On July 4, Medica said it had agreed to an all-cash takeover by IK Investment. The takeover is worth GBP269 million and was led by Moonlight Bidco, a wholly-owned vehicle of IK Investment.

Shares in Strategic Equity closed 0.6% higher at 308.86 pence each in London on Wednesday.

By Sophie Rose; Alliance News reporter

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