10th Nov 2015 10:02
LONDON (Alliance News) - HG Capital Trust PLC on Tuesday said it is to receive cash proceeds of about GBP7.9 million after private equity firm HgCapital agreed the sale of German elderly care provider Casa Reha to Euronext-listed Korian SA.
HG Capital Trust said the cash proceeds represent a 77% uplift over the GBP4.4 million carrying value of the business in the net asset value of the trust at the end of October. That value was based on the directors' valuation at the end of June.
Based on the October 31 reported NAV, and all subsequent reported transactions, the pro-forma NAV of the trust is expected to increase to GBP488.9 million or 1,309.9 pence per share, the trust said.
Shares in the trust were up 0.6% at 1,067.94 pence on Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
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