ICGT Icg Enterprise Trust Plc

 
TIDMICGT 
 
   22 JUNE 2020 
 
   ICG ENTERPRISE TRUST PLC 
 
   REALISATION OF ROOMPOT 
 
   ICG Enterprise Trust ("the Company") is pleased to announce that PAI 
Partners has reached an agreement to sell Roompot, an operator and 
developer of holiday parks in Northern Europe, to KKR. The financial 
terms of the transaction have not been disclosed. 
 
   The Company originally invested in Roompot in 2016, alongside PAI 
Partners, one of Europe's leading private equity managers and one of the 
Company's longest established third-party manager relationships. The 
Company invested in Roompot both through its commitment to PAI VI and 
through a co-investment alongside the fund. 
 
   Roompot, is the Company's 6(th) largest investment, representing 2.1% of 
the Portfolio at 30 April 2020. The agreed sale of Roompot will result 
in a significant uplift to the value of the Company's holding in the 
business. Based on the expected net proceeds from the transaction, the 
Company estimates the uplift would be equivalent to an increase in in 
the net assets of the Company of 1.3%, or 14p per share. 
 
   The transaction is subject to customary closing conditions, with 
proceeds expected to be received in the third quarter of this calendar 
year. 
 
   Enquiries 
 
   Analyst / Investor enquiries:                                                                                  +44 (0) 20 3201 7700 
 
 
   Oliver Gardey, Head of Private Equity Fund Investments, ICG 
 
   Colm Walsh, Managing Director, ICG 
 
 
   Ian Stanlake, Investor Relations, ICG 
 
 
   Media: 
 
   Alicia Wyllie, Co-Head of Corporate Communications, ICG 
+44 (0) 20 3201 7994 
 
   Ed Gascoigne Pees, Eddie Livingstone-Learmonth, Camarco 
+44 (0) 20 3757 4993 
 
 
 
 

(END) Dow Jones Newswires

June 22, 2020 02:00 ET (06:00 GMT)

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