10th Jan 2017 11:31
LONDON (Alliance News) - Candover Investments PLC on Tuesday said it has sold its remaining stake in Technogym SpA at a higher price that the last valuation of the stake.
Candover said the the sale of its remaining balance in Technogym, which was not revealed, follows on from the sale of a partial stake when Technogym launched its initial public offering in Italy back in April 2016.
Candover has disposed of the balance of its interest in Technogym for cash proceeds of EUR9.5 million, equal to around GBP8.3 million. The stake in Technogym was valued at the end of June 2016 at only GBP7.1 million, implying a premium of about 17%.
Candover shares were trading 3.6% higher on Tuesday at 102.00 pence per share.
By Joshua Warner; [email protected]; @JoshAlliance
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