20th Aug 2018 11:45
LONDON (Alliance News) - HgCapital Trust PLC said its manager Hg has sold life sciences-focused advisory firm Kinapse to Nasdaq-listed Syneos Health Inc.
The financial details were not disclosed, however, HgCapital said the transaction values the company investment in Kinapse at GBP7.9 million, reflecting an uplift of 35% over the carrying value of GBP4.8 million in net asset value as at May 31.
The sale is expected to enhance Syneos Health's Asia Pacific capabilities and will double the firm's footprint in Europe. Kinapse itself will be integrated into Syneos's consulting business.
Shares in HgCapital Trust were up 1.3% at 1,905.00 pence on Monday.
Related Shares:
HgCapital Trust plc