In QuotedData’s other news 15 November 2019
- Princess Private equity has highlighted a press release from Partners Group – Partners Group has agreed to sell its minority equity stake in Action, Europe’s leading non-food discount retailer, on behalf of its clients. The stake will be acquired by Hellman & Friedman, a leading private equity investment firm. Partners Group has held its position in Action, on behalf of its clients, since 2011. The transaction values Action at an enterprise value of EUR 10.25 billion. Action is also the largest underlying holding in Standard Life Private Equity (held through 3i Eurofund V). The Standard Life fund is not cashing in its stake at this time but the partners deal might help boost its NAV.
- Symphony International Holdings says that Minor International (MINT), its largest investment, released its third quarter results for the 2019 financial year. MINT reported a 347% increase in net profit in 3Q19 from the same period a year earlier as a result of strong contributions from NH Hotel Group and MINT’s realized gain on sale of three Tivoli assets in Portugal. As yet though, MINT’s share price hasn’t really responded to the news.
- Impax Environmental Markets has been expanding so fast that it is running out of room under its existing shareholder permissions – it is calling a one-off meeting to ask shareholders to approve the issuance of more shares.
- ScotGems is calling a shareholder meeting to approve a change of investment policy. This is to clarify that it is an emerging markets small cap investor not a global small cap investor.