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Epiris completes sales

06 March 2017 08:18

Electra Private Equity has confirmed that Epiris has completed the sale of Parkdean Resorts to Onex Corporation for £1.35bn and the sale of Electra's interest in Innovia Group to CCL Industries.

Electra said it has received proceeds £406m from the Parkdean Resorts' sale.

Together with proceeds previously received, Electra's total proceeds from the investment are £516 million.

This equates to a return of 3.9x cost, and an IRR of 45%.

Electra has received proceeds of £108m from the sale of its interest in Innovia, which equates to a return of 3.3x cost, and an IRR of 51%.

Epiris invested £33m as a cornerstone investor in The Smithfield Group's acquisition of Innovia in 2014 and was represented on the board of the business by chief investment partner, Bill Priestley.

At 8:18am: (LON:ELTA) Electra Private Equity Plc share price was +8p at 4968p

Story provided by StockMarketWire.com

Related Company: ELTA

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