25th Jul 2008 09:58
For immediate release
Electra completes the sale of Freightliner
25 July 2008 Electra Private Equity PLC ("Electra") is pleased to announce the completion of the sale of Freightliner to Arcapita following receipt of European Commission clearance.
On completion Electra received net proceeds of £71.1m which, as previously announced, give rise to an uplift of 120p per share from the value of Electra's holding in Freightliner at 31 March 2008.
For further information please contact:
Sir Brian Williamson, Electra Private Equity plc 020 7306 3883
Hugh Mumford, Electra Partners LLP 020 7214 4200
Caroline Villiers, M: Communications 020 7153 1521
Notes to editors:
Electra Private Equity PLC
Electra has specialised in private equity for over 30 years achieving investment returns substantially in excess of the FTSE All-Share Index. Electra's objective is to achieve a rate of return on equity of between 10-15% per annum over the long-term by investing in a portfolio of private equity assets. Over the 5 years to 31 March 2008 Electra achieved a return on equity of 22.6% on an annualised basis. Electra, with its differentiated investment approach, has a strong market position and provides shareholders with direct and liquid access to private equity.
Related Shares:
ELTA.L