30th Nov 2015 08:41
LONDON (Alliance News) - Private equity firm HgCapital, the manager of London-listed HgCapital Trust PLC, on Monday said it has taken a majority stake in digital publishing business EidosMedia.
HgCapital Trust said it will invest in Milan, Italy-based EidosMedia alongside other institutional clients of HgCapital, with the trust itself to contribute about GBP8.3 million in the deal.
The trust said its liquid resources available for future deployment are estimated to be GBP45.6 million, equivalent to 10% of net asset value on October 31 and excluding a GBP40.0 million standby debt facility.
The transaction will reduce the trust's outstanding commitments to invest in HgCapital deals to approximately GBP157.0 million, equivalent to 33% of NAV on October 31.
The terms of the transaction were not disclosed.
Credit Suisse acted as advisor to HgCapital on this transaction.
Shares in HgCapital Trust were down 0.6% at 1,096.00 pence on Monday morning.
By Samuel Agini; [email protected]; @samuelagini
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