ELTA.L Regulatory News (ELTA)

20 Jul 2006 07:01

Electra Private Equity PLC20 July 2006 Electra Private Equity Plc 20 July 2006 Electra announces the sale of Amtico Electra Private Equity PLC ("Electra") is pleased to announce it has enteredinto a conditional agreement for the sale of its interest in Amtico to asecondary management buyout arranged by ABN AMRO Capital. Completion of the transaction is conditional upon competition clearance. It ispresently expected that competition clearance decisions will be made within 28days. On completion of the transaction, Electra would receive £37.7m for itsinvestment in Amtico, which compares to a valuation at 31 March 2006 of £19.5m.This disposal would give rise to an uplift of 41p per share, over ElectraPrivate Equity's net asset value of 1417p per share as at 31 March 2006. At completion Electra has agreed to reinvest a total of £22.5m in a mixture ofequity and mezzanine debt in the secondary management buyout. Amtico designs, manufactures and markets resilient vinyl flooring products forboth the commercial and residential markets which are sold globally. Close Brothers acted as sole financial adviser to Electra. For further information please contact: Janette Baggs, Electra Partners Limited: 020 7214 4200Nick Miles, M: Communications: 020 7153 1535 This information is provided by RNS The company news service from the London Stock Exchange