Candover Investments has announced the partial realisation of its investment in leisure park operator, Parques Reunidos, which is managed by Arle Capital Partners Limited. The company says that the partial realisation follows the initial public offering of Parques. In the IPO of Parques, Candover will sell 7.7% of its interest in the company for net cash proceeds of €3.4m (£2.6m). The compamy says that its remaining interest in Parques is valued at €42.1m (£32.7m) at the IPO price and is subject to a 180 day lock up. Dealings in the shares of Parques will commence on 29 April 2016 and Candover’s entire interest in Parques was valued at £43.4m illion in its audited accounts for the period ended 31 December 2015. The company says that its retained interest in Parques of 3.4% will continue to be managed by Arle, along with the remaining interests of the Candover 2005 Fund. In aggregate, Arle will continue to manage 33.9% of Parques.
Candover announces partial realisation of Parques Reunidos :CDI