Oakley agrees sale of Facile to EQT – Oakley Capital Investments Limited (OCI) has announce that one of its underlying funds, Oakley Capital Private Equity II has reached an agreement to sell its stake in Facile.it, Italy’s leading online price comparison website to EQT VIII, an underlying fund of Swedish private equity group EQT.
Another of OCI’s underlying funds, Oakley Capital Private Equity III will invest €80 million alongside EQT as a minority partner to continue to benefit from Facile’s strong market leading position in the Italian market, which still has significant structural growth potential. Oakley Capital Investments’ contribution to Oakley Capital Private Equity III’s investment in Facile is expected to be approximately £28.6 million.
Headlines:
Proceeds
Oakley Capital Investments will receive £52.2 million – a 58% premium to the December 2017 carrying value
Uplift:
The sale results in an uplift of 9.3p per share on the overall 31 December 2017 NAV
Returns:
The gross return that Oakley Capital Private Equity II has made from investing in Facile.it is 3.8 times greater than what was originally paid for it
Investment:
Oakley Capital Private Equity III is to invest €80 million alongside EQT.
More on EQT
EQT is a Swedish private equity group of 27 funds with EUR 50 billion in raised capital. Together with a network of industrial advisers, the firm invests in private equity, mid market, infrastructure and credit in Nordic countries , Germany, Austria, Switzerland, Greater China and North America, with a focus in industrials, consumer goods, technology, media and telecommunications, health care and services.
OCI : Oakley agrees sale of Facile to EQT