LONDON (Alliance News) - Oakley Capital Investments Ltd said Wednesday that it will receive approximately EUR14.4 million as a result of the sale of Host Europe Group to its New York-listed web hosting rival GoDaddy Inc.
GoDaddy has agreed to buy Host Europe for EUR605.0 million from private-equity firm Cinven, and will assume net debt of EUR1.08 billion.
Oakley Capital Investments will receive the cash proceeds due to being a limited partner in Oakley Capital Private Equity II, which holds a minority interest in Host Europe.
Oakley Capital Investments noted the expected cash proceeds represent a GBP3.3 million uplift in its indirect interest in Host Europe over its carrying value at June 30, equivalent to a 1.8 pence per share increase in its interim net asset value.
Shares in Oakley Capital Investments were up 0.7% at 147.50p Wednesday morning.
By Adam Clark; adamclark@alliancenews.com
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