28th Apr 2016 07:00
CANDOVER INVESTMENTS PLC - Partial Realisation of Parques Reunidos ("Parques")CANDOVER INVESTMENTS PLC - Partial Realisation of Parques Reunidos ("Parques")
PR Newswire
London, April 27
28 April 2016
Candover Investments plc
Candover Investments Plc ("Candover")* today announces the partial realisation of its investment in Parques Reunidos ("Parques") which is managed by Arle Capital Partners Limited ("Arle"). The partial realisation follows the initial public offering ("IPO") of Parques.
In the IPO of Parques, Candover will sell 7.7% of its interest in Parques for net cash proceeds of €3.4 million (£2.6 million). Candover's remaining interest in Parques is valued at €42.1 million (£32.7 million) at the IPO price and is subject to a 180 day lock up. Dealings in the shares of Parques will commence on 29 April 2016. Candover's entire interest in Parques was valued at £43.4 million in its audited accounts for the period ended 31 December 2015.
Candover's retained interest in Parques of 3.4%, which is subject to a greenshoe option, will continue to be managed by Arle, along with the remaining interests of the Candover 2005 Fund. In aggregate, Arle will continue to manage 33.9% of Parques.
Ends.
* Candover means Candover Investments plc and/or one or more of its subsidiaries
For further information, please contact:
Candover Investments plc
Malcolm Fallen, CEO +44 20 7489 9848
Related Shares:
CDI.L