Electra Private Equity to receive £93m after Treetops Nurseries sale by Epiris
By Andrew Schonberg
Date: Thursday 30 Mar 2017
(ShareCast News) - Electra Private Equity expects to received £93m from Epris Managers LLP's agreed sale of Treetops Nurseries, the UK's fourth largest nursery education operator, to Busy Bees.
The deal was expected to close in April. Epiris Managers was acting on behalf of its client, Electra Private Equity.
Electra Private Equity was expected to receive proceeds from the sale of £93m, equivalent to an increase in its NAV of 107p a share on the 30 September 2016 valuation.
This equated to a return of 6.5-times cost and an internal rate of return of 59%.
At 12:28 GMT, shares in Electra were up 1.04% to 4941p each.
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