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ICG realises investments in Parkeon

20 April 2016 07:54

Intermediate Capital Group has confirmed that it, other members of its group and the ICG European Fund 2006 B have realised investments in Parkeon Group following its sale.

The original investments totalled EUR104.7m; total proceeds being repaid at the time of exit will be EUR281.8m, with 45.4% of the proceeds being received by ICG and its group and the remainder received by the Fund.

Parkeon is headquartered in France and is a provider of parking and transport management solutions in 40 countries.

ICG's transition to a fund management business model means that only a small number of co-investments of over GBP50m now remain on ICG's balance sheet. ICG considers that investments below this size are not material to the overall business. ICG will therefore not make further announcements of realisations other than in respect of investments in excess of GBP50m.

Story provided by StockMarketWire.com

Related Company: ICP

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