28th Jul 2015 07:07
CANDOVER INVESTMENTS PLC - Realisation of Stork BVCANDOVER INVESTMENTS PLC - Realisation of Stork BV
PR Newswire
London, July 27
28 July 2015
Candover Investments plc announces partial realisation of Stork BV with the sale of Fokker Technologies Group BV for €706 million
Candover* Investments plc (“Candover”) announces that Arle Capital Partners (“Arle”) has agreed to sell Fokker, a subsidiary business of portfolio company Stork BV, to GKN for an enterprise value of €706 million.
Fokker is a specialist Tier 1 supplier to the commercial, military and business jet markets. With almost 5,000 employees Fokker is headquartered in the Netherlands and has operations in Europe, North America and Asia.
Fokker specialises in the design, development and production of lightweight aero structures, electrical wiring interconnection systems and landing gear. It also provides maintenance, modification and logistic services to aircraft owners and operators. In the year ended 31 December 2014, Fokker generated revenue of €758 million.
The sale will generate net cash proceeds for Candover of circa €9 million through a partial realisation of its investment in Stork BV.
The transaction is expected to complete in the fourth quarter of 2015 after completion of the necessary employee consultation processes and requisite regulatory clearances.
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
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