21st Mar 2012 16:27
News Release
Guernsey, 21 March 2012
Princess realizes largest portfolio company holding
Princess Private Equity Holding Limited (Princess) is pleased to announce that it has fully realized its direct investment in GNC Holdings, Inc. (GNC), a leading global specialty retailer of health products and Princess' largest portfolio company holding at the end of 2011.
GNC completed its initial public offering (IPO) on the New York Stock Exchange at an issue price of USD 16.00 per share on 1 April 2011 and Princess has now fully realized its direct investment in GNC, generating overall proceeds of EUR 18.2 million during the past few weeks. The realization of GNC represents a return of more than 4x the cost of Princess' original direct investment in 2007 and an IRR above 35%.
Urs Wietlisbach, a member of Princess' Board of Directors and Executive Vice Chairman of Partners Group, the Investment Advisor, comments: "We are very pleased to have realized the direct investment in GNC at above four times our initial investment. Princess received EUR 115.4 million in proceeds from successful realizations in 2011, and with the GNC exit, among others, it appears that the strong momentum for realizations looks set to continue in the current year. These exit proceeds should further support Princess' liquidity position, future dividend payments and new direct investments."
Ends.
About Princess
Princess is an investment holding company founded in 1999 and domiciled in Guernsey. It invests, inter alia, in private equity and private debt investments. Princess is advised in its investment activities by Partners Group AG, a global private markets investment management firm with EUR 25 billion in investment programs under management in private equity, private debt, private real estate and private infrastructure. Princess aims to provide shareholders with long-term capital growth and an attractive dividend yield. Princess is traded on the Frankfurt Stock Exchange (ticker symbol: PEY1) and on the London Stock Exchange (ticker symbol: PEY). Further information: www.princess-privateequity.net
Contacts
Princess Private Equity Holding Limited:
www.princess-privateequity.net
Registered Number: 35241
Investor relations contact
Jan-Frederik Modell
Phone: +44 (0)20 7575 2753
E-mail: [email protected]
Media relations contact
Partners Group AG
Dr. Anna Hollmann
Phone: +41 41 784 63 72
E-mail: [email protected]
www.partnersgroup.com
This document does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities and neither is it intended to be an investment advertisement or sales instrument of Princess Private Equity Holding Limited. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes must inform themselves about, and observe any such restrictions on the distribution of this document. In particular, this document and the information contained therein is not for distribution or publication, neither directly nor indirectly, in or into the United States of America, Canada, Australia or Japan.
This document may have been prepared using financial information contained in the books and records of the product described herein as of the reporting date. This information is believed to be accurate but has not been audited by any third party. This document may describe past performance, which may not be indicative of future results. No liability is accepted for any actions taken on the basis of the information provided in this document. Neither the contents of Princess' website nor the contents of any website accessible from hyperlinks on Princess' website (or any other website) is incorporated into, or forms part of, this announcement.
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