16th Jun 2016 08:16
LONDON (Alliance News) - Private equity firm HgCapital, the manager of London-listed HgCapital Trust PLC, on Thursday said it has agreed the sale of Mainio Vire, a provider of elderly care, mental health and home services in Finland, to Mehilainen, a private provider of social and health care services also based in Finland.
The trust, which participates in all of HgCapital's investments alongside the private equity firm's institutional clients, said the deal will result in an estimated value of the trust's stake in Mainio Vire of GBP4.1 million. That represents an uplift of GBP1.0 million over the carrying value of GBP3.1 million in the net asset value of the trust as of May 31, which was based on the trust's valuation as of December 31, 2015.
Based on the May 31, 2016 reported NAV, including the impact of the revaluation of the carried interest provision, the pro-forma NAV of the trust is expected to increase to GBP519.7 million or 1,392.4 pence per share, an increase of 2.3 pence.
Shares in HgCapital Trust were up 0.3% at 1,176.00p Thursday morning.
By Samuel Agini; [email protected]; @samuelagini
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