25th Aug 2020 13:38
(Alliance News) - Princess Private Equity Holding Ltd on Tuesday said its investment manager has agreed to sell a majority equity stake in PCI Pharma Services.
Princess is a Guernsey-domiciled private equity and private debt investor. Its shares were untraded in London on Tuesday afternoon, last closing at 840.00 pence.
Partner Group, the investment manager, will sell the stake on behalf of clients and alongside investment partners Thomas H Lee Partners and Frazier Healthcare Partners.
Following the sale to private equity firm Kohlberg & Co and Abu Dhabi-based sovereign investor Mubadala Investment Co, Princess and other funds managed by Partners Group will still hold a "meaningful minority equity stake" in PCI.
The deal values Princess's stake in PCI at around USD50.8 million, up 23% from a carrying value off USD41.3 million as at June 30.
By Anna Farley; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Partners Grp E