23rd Aug 2019 17:07
(Alliance News) - P2P Global Investments PLC said Friday sold its entire interest in Castlehaven Finance for EUR250 million in a transaction on Thursday.
P2P will be selling its 25% equity interest as well as loan and other debt interests. The sale price represents a "modest" premium to the holding value of its stake.
The funds from the sale will be redeployed into other investments.
"We have had a successful relationship with Castlehaven Finance, provided them with a significant amount of financing and have been delighted with the development of the business since the beginning of the company's partnership in 2016," Pollen Street Capital Managing Partner Lindsey McMurray said. "We are happy to have contributed to Castlehaven Finance's growth and wish the team every continued success."
Shares in P2P closed 1.2% higher at 850.00 pence in London on Friday.